Relevant:
- "Get the Heck out of Bank of America" says Senator Richard Durbin, on Senate Floor; Rep Brad Miller Accuses Banks of "Vulgar Profits"
- ShoreBank bailout probe kicked out of Wall Street reform bill
- Hidden Provision Of Bailout Bill Totally Eliminates Reserves
- Expect banks to be hit with major fees for deposit insurance
- Wall Street's Win on Swaps Rule Shows Washington Resurgence
2009-06-05 — nytimes.com
In the end, the banks’ startling success in defeating the provision, which was pushed hardest by Senator Richard J. Durbin, Democrat of Illinois, caught even their lobbyists by surprise. Not only did they defeat the cramdown provision, but the banks walked away with billions in new bailout money.
The housing bill Mr. Obama signed on May 20 saves banks and credit unions at least $13 billion in special fees that they would have had to pay to replenish dwindling deposit insurance funds.
source article |
permalink |
discuss |
subscribe by:
|
RSS |
email 
Comments: Be the first to add a comment
add a comment | go to forum thread
Note: Comments may take a few minutes to show up on this page. If you go to the forum thread, however, you can see them immediately.