Enacting The Bailout Prevention Act May Be Unwise

Law360, New York (May 27, 2015, 11:56 AM EDT) -- On May 13, 2015, Sens. Elizabeth Warren, D-Mass., and David Vitter, R-La., introduced a bill in the United States Senate aimed at limiting the authority of the Board of Governors of the Federal Reserve System (the "Federal Reserve") to provide emergency lending to financial institutions seeking credit during a liquidity crisis.[1] This proposed legislation, known as the Bailout Prevention Act, has already proven to be a controversial measure, with supporters and critics speaking out from both sides of the aisle and across the public and private sectors....

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