Dodd-Frank Dinged: House Repeals Liquidation Powers

By  |  April 19, 2012
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Republicans in the House of Representatives repealed a part of Dodd-Frank that gave the Federal Deposit Insurance Corp. the power to liquidate failed financial institutions seized by the government. Republicans say the change will take $22 billion away from the federal deficit over the next ten years.

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    “What the Republican motion here does today is return us to 2008 where there is no capacity to deal, in a reasonable way, with a failed institution,” said Barney Frank, in a report published by Reuters.

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