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July 4th, 2008 by GoldSilver | Posted in Economic News |
financial institutions must be allowed to fail. We have the Fed’s broad lender of last resort powers which are currently being used to help stabilize our markets. Current law also allows our President to declare a national economic emergency, and then dictate the actions of commercial banks….To do this, we will need to give our regulators additional emergency authority to limit temporary disruptions…..so we must give regulators the authorities to limit that impact and facilitate an orderly failure
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