Reforming the Federal Reserve’s Rescue Authority

Featuring Senator Elizabeth Warren and Senator David Vitter

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When Congress examined this issue during the Dodd-Frank Act, they placed new limits on emergency lending that are contained in Section 1101 of the legislation. These limits are clearly intended to limit 13-3 lending to programs that are truly broad based (as opposed to bailing out a small set of insider Wall Street institutions) and to exclude the use of the program for bailouts of institutions that are actually insolvent. Join us as we discuss whether Dodd-Frank's limitations to the Fed's 13-3 powers went too far, or not far enough.