Too Big to Fail, Too Big to Exist Act
Latest action · Apr 26, 2012 Referred to the House Committee on Financial Services.
Progress
Where this bill reached, and when. A stage with no date was not reached; one that failed a vote and later carried shows the date it carried.
- IntroducedApr 26, 2012
- Passed HouseNot reached
- Passed SenateNot reached
- To the PresidentNot reached
- Became lawNot reached
Summary
Too Big to Fail, Too Big to Exist Act - Instructs the Secretary of the Treasury to: (1) submit to Congress, within 90 days after enactment of this Act, a list of all commercial banks, investment banks, hedge funds, and insurance companies that the Secretary believes are too big to fail ("Too Big To Fail List"); and (2) break up entities on the list so that their failure would no longer cause a catastrophic effect on the U.S. or global economy without a taxpayer bailout.
Cosponsors 1
Members who signed on, in the order they did. All signed on Apr 26, 2012.
| Seat | Cosponsor | Signed on | |
|---|---|---|---|
| D-NY | Maurice D. Hinchey | Original | Apr 26, 2012 |
Committees 1
Where it was sent and what each committee and subcommittee did with it, in order.
| Chamber | Committee | What it did |
|---|---|---|
| House | Financial Services Committee | Referred Apr 26, 2012 |
Actions 2
Everything that happened, newest first.
- Apr 26, 2012Introduced in House
- Apr 26, 2012Referred to the House Committee on Financial Services.
Research
What has been written about this bill: committee reports, cost estimates, the sponsor’s authority statement, printed hearings and the Congressional Research Service’s work.
Constitutional authority
The sponsor’s statement, as printed in the page H2211.
Titles 2
Every title it has carried, official and short, at each stage.
- Official Title as Introduced
- To address the concept of "Too Big To Fail" with respect to certain financial entities.
- Short Titles as Introduced
- Too Big to Fail, Too Big to Exist Act
Subjects
Assigned by the Library of Congress. Policy area: Finance and Financial Sector.
Text 1
Each version as it was printed, newest first.
- Apr 26, 2012Introduced in House
Everything here is as published by Congress: the summary is the Congressional Research Service's, the action wording is the clerks', and the subjects are the Library of Congress's. How far it got is read from the actions themselves, taking the most recent one of each kind, so a bill that failed a vote and later passed is shown as having passed. Records come from this bill on Congress.gov and govinfo.gov; cost estimates are the Congressional Budget Office's, and the hearings are the printed hearings GovInfo publishes, which can appear months after the hearing.
