Treasury Dept. and House Financial Services Committee Release Draft Systemic Risk Bill
Today the Treasury Department and the House Financial Services Committee jointly released draft legislation addressing systemic risk. The new draft legislation comes two days before the House Financial Services Committee is scheduled to hold a hearing on systemic risk, Thursday, October 29, 2009. Today's revised legislation outlines a process for the government to determined which financial companies are more stringently regulated, what regulations will be used and how they will work. Additionally, it sets forth a process for winding down such companies.
Click here for a summary of the draft legislation and press release, and click here for the actual draft legislation.
