H.R.4173.ENR…final answer

Please, please, don’t put them in till they are actually big, non-economic guys. 

In the Bill…according to Akin (R-MO):  
 
H.R. 4173 perpetuates financial bailouts. In reality, the bill allows the FDIC to bail out selected creditors. To pay off the creditors of a “too big to fail” financial institution, the bill gives the FDIC the authority to borrow an amount equal to the value of the firm being liquidated. For some larger institutions this could amount to $2 trillion (of taxpayer money) per institution. This “solution” actually incentivizes failure, as mismanaged institutions have a taxpayer bailout as a safety net. In contrast, House Republicans have pressed to end taxpayer-funded bailouts by creating an enhanced form of bankruptcy for large non-bank financial institutions, forcing participants to plan for the possibility of failure and face stiff consequences for mismanagement.  
 
 
H.R. 4173 Fails to Address the Biggest Single Cause of the Financial Crisis. Mismanagement of Fannie Mae and Freddie Mac were among the root causes of the housing and financial market melt-down, costing American taxpayers more than $145 billion so far.  The Congressional Budget Office (CBO) predicts that the cost could reach $380 billion or more if the Obama Administration continues using Fannie and Freddie as a place to store bad loans made by banks. And yet, despite this, H.R. 4173 virtually ignores these problem areas – authorizing only a study.  Such a study will only delay reform and limit any opportunity for meaningful recovery in the housing market.  
 
 
H.R. 4173 Increases Government Control. This measure empowers the government to seize private firms and to funnel taxpayer funds to “rescue” them.  It also creates a “consumer protection” czar whose agency will control consumer credit and financing. In addition, the Democrat’s bill creates an “Office of Financial Research” that is charged with monitoring the financial activities of private citizens while providing taxpayer funded research about consumers to Wall Street. None of these activities have sufficient oversight or accountability.  
 
H.R. 4173 Destroys Jobs and Threatens the Economy. Economists have also estimated that H.R. 4173 will reduce new job creation by 4.3 percent because of the way it constricts access to consumer credit, a move that is particularly damaging to small and seasonal businesses
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His comments were before the final passage of the Bill, and the Bill is very large, and complex so if someone has verified these comments, I would like to know.