US House bill to curb Fed lending power
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In a sharp rebuke to Wall Street after a string of hefty bailouts last year, House Democrats are looking to prohibit the US Federal Reserve from directly lending to failing institutions and to empower regulators to break up even healthy firms if they are deemed too big to fail.
The two provisions were expected to pass as part of a broader bill being considered this month by the House Financial Services Committee. The legislation would set tougher standards for firms that grow so large and influential in the market that their failure could bring down the entire economy. (AP)
