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#194 Planet Money: What the Finance Bill Doesn?t Tell Us

#194 Planet Money: What the Finance Bill Doesn?t Tell Us

Planet Money vor 16 Jahren

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That big finance bill everybody's been talking about since forever is about to become law.

But as it turns out, the bill doesn't answer some fundamental questions. How much money will banks have to hold as a safety cushion? Unclear.

Which big companies (besides banks) will be subject to new regulations? The bill doesn't say.

On today's podcast, we talk to Rep. Barney Frank, one of the guys whose name is on bill.

He argues that Congress has to leave lots of issues to the regulators' discretion. And, he says, the bill's effectiveness is largely in the hands of future leaders.

"In democracies, there are no guarantees," he told us.