New "Too Big To Fail" Bill Gives Feds Power To Freeze Derivatives Contracts

The "Too Big To Fail" legislation currently being debated by a House committee has been widely criticized as toothless. But one provision gives the federal government a powerful mechanism to prevent another implosion like the one that launched the current financial crisis.

The bill, which would give the Federal Deposit Insurance Corporation the power to take over failing firms that pose a risk… » Full Story on Huffington Post