"Senate votes to ban taxpayer money to bail out financial firms"

[Clio the Leo]

Senate votes to ban taxpayer money to bail out financial firms

May 05, 2010 16:04 EDT

WASHINGTON (Reuters) - The Senate on Wednesday approved an amendment to a sweeping Wall Street reform bill that would prohibit the use of taxpayer funds to bail out financial institutions. It was the bill's first amendment.

Offered by Democratic Senator Barbara Boxer, the measure underscored wide agreement in Congress that the massive Bush administration bailouts in 2008 of firms such as AIG, Citigroup and Bank of America should not be repeated.

http://www.talkingpointsmemo.com/news/2010/05/senate_votes_to_ban_taxpayer_money_to_bail_out_fin.php

[LakeSamish706]

1. A little like closing the barn door after the horses got out, but I guess we will take it.

I still would like to see the Fed. audited though, just to see where all that money ended up at.