[T]he bill gives Treasury the power to liquidate banks that pose a threat to financial stability. But it essentially exempts minority-owned banks and those approved by Acorn-style urban organizers.
"The orderly liquidation plan shall take into account actions to avoid or mitigate potential adverse effects on low- income, minority or underserved communities affected by the failure of the covered financial company," it says.
In other words, zombie banks laden with subprime and near-prime loans may be too PC to fail. Democrats call such immunity from reform "impact protections," but Republicans aren't buying it.
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