Achievers

The truth about the $6 trillion bailout deal that’s gone wrong

The truth is that the Obama administration negotiated a $6-trillion bailout for banks and other financial institutions that failed in their attempt to prop up the global financial system.

Now the White House is facing calls to hold off on a new bailout until the new Congress takes office.

So we have a lot to learn from this mess, and there are still many unanswered questions.

The details of the bailout were described to Congress by the White and Banking Departments in their joint testimony to the Senate Banking Committee this week.

The White House has said it expects a final vote on the bailout by the end of the year.

But even as the Senate committee is considering its version of the legislation, the White said in his remarks that the bailout would not have been approved without the cooperation of the Treasury and the Federal Reserve.

The bill also includes some financial protections for smaller banks and small businesses.

The administration said it wanted to get rid of what the administration calls “unnecessary” provisions that would have limited the ability of banks to lend to small businesses, which are struggling with stagnant economic growth.

But many small banks, particularly those in the service sector, were hit hard by the crisis.

The Treasury Department has said that many small lenders had to write down large losses in the bailout, which the Treasury Department estimated would have cost them more than $300 billion.

The bailout also contained a provision that would allow the government to provide loans of up to $100 billion to banks and lenders that are subject to tougher capital requirements and other rules.

In an interview with the Associated Press, the head of the House Financial Services Committee, Rep. Jeb Hensarling, R-Texas, said the legislation does not address the problem of the financial sector “losing its way” and that “there’s no plan in place to fix the problem.”

But he added that “we will be looking at ways to make sure that we don’t go back to the days when the government bailed out a lot of big banks.”

The bill, Henslinger said, “should not be considered a bailout for small banks.”

This story was updated at 4:20 p.m. with a response from the Treasury.

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