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View Full Version : Any good resources that explains the Dodd/Frank bill that actually empowerd the FED than ...




Lord Xar
10-26-2013, 02:25 PM
I hear Peter Schiff speak on Dodd / Frank bill that actually empowered the FED even more, rather than reign it in.

Are there any resources that summarize this out?

thanks

Zippyjuan
10-26-2013, 02:40 PM
Dodd Frank was to limit banks than the Fed. But in brief: http://useconomy.about.com/od/criticalssues/p/Dodd-Frank-Wall-Street-Reform-Act.htm



Reform the Federal Reserve:

The Government Accountability Office(GAO) was allowed to audit the Fed's emergency loans during the financial crisis. It can review future emergency loans, when needed. The Fed cannot make an emergency loan to a single entity, like Bear Stearns or AIG, without Treasury Department approval. (Although the Fed did work closely with Treasury during the crisis.) The Fed must make public the names of banks that received these loans or TARP funds.

A more detailed summary of the Act: http://www.sullcrom.com/practices/detail.aspx?service=257&sub=258