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Bill Drops Fund to Shut Failed Banks

Bill Drops Fund to Shut Failed Banks 04 May 2010 Leaders of the Senate Banking Committee said Tuesday that they had reached an agreement to limit the likelihood [!?!] that big banks would be bailed out by taxpayers. Aides to the committee chairman, Christopher J. Dodd, Democrat of Connecticut, and the panel’s senior Republican, Richard C. Shelby of Alabama, said the two senators had agreed to scuttle a $50 billion fund proposed by Democrats. The fund, which was opposed by the Obama administration, drew criticism from Republicans. [Exactly. The Obama Administration and the GOP - two peas in the Wall Street pod and absof*ckinglutely *useless.*]