This is the Democrats’ financial regulatory reform bill. It seeks to address the regulatory lapses that lead to the crisis of 2008 and fix the problem of “too big to fail” that necessitated the bailouts.
It would create a process for the government to seize and break up failing financial firms, create a new consumer protection agency specifically for financial products, reform the derivatives market, and more. An 11-page summary from the Banking Committee can be found here
See alsoH.R.4173: Wall Street Reform and Consumer Protection Act of 2009
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