|
|
Article: Frank defends banking measure; 'Last meal' not rescue.(BUSINESS)
- Article from:
- The Washington Times (Washington, DC)
- Article date:
- November 4, 2009
CopyrightCOPYRIGHT 2009 The Washington Times LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
|
Byline: Sean Lengell, THE WASHINGTON TIMES
House Financial Services Committee Chairman Barney Frank is refuting accusations that a bill he helped author would lead to a rash of taxpayer-funded Wall Street bailouts.
House members from both parties in recent days have complained that the measure, designed to avoid a repeat of the $700 billion Wall Street bailout, would still allow the federal government to pump rescue funds into failing banks.
But Mr. Frank told reporters Tuesday that any taxpayer money doled out under such circumstances only would be used to help dismantle the company - not to keep it afloat.
Aid to an institution will ...