The Senate's proposed financial regulation bill allows the government to force a failing institution out of business but does not allow a "bailout" of it's owners and employees. It also gives the government the option to partially cushion the impact of the failure on creditors to stabilize the economy, which can be called a "bailout", although it would be funded by fees on other institutions, not individual taxpayers.
... the Senate bill gives the government discretion ... to put money into a failing firm to pay off creditors.
See Yes, It's a Bailout Bill by Phillip Swagel, April 24, 2010.
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