Too big

Retiring Congressman Barney Frank insists that his new law solves the too big to fail in regards to the big banks. He says this because the law lays out the procedures on how to close down a failing bank. The law says the government can close the bank down and pay off its debts. The question is where will the money come from to pay off these debts and therein lies the problem. There are currently four books on Amazon outlining the problems with the Dodd/Frank bill and they all ask the same question, where is the money? Both Congressman Frank and former Senator Dodd know of the weakness of their bill but neither will admit it. You see they are not lying they are just skirting the truth. We had a similar situation in the 80’s with the S&L crisis. At that time these institutions were going broke as the owners were bleeding them dry but the government that had the power couldn’t shut them down because the government FDIC did not have the money and congress would not approve any new funding.
Before Dodd/Frank these six banks controlled 16% of the money and now they control over 60% so this time when they fail the bailout will be much larger. Get ready.