Bill: Bank Bailout Prevention Act
Section 1: Short Title This bill may be cited as the "Bank Bailout Prevention Act" Section 2: Findings The Congress of the United States finds the following: 1. Banks are private enterprises that should assume the full responsibility of their actions and decisions in the market. 2. Bailing out banks with public funds sets a dangerous precedent as it creates moral hazards, promotes undeserved privileges, and institutionalizes the possibility of future government interventions. 3. Bailing out banks unfairly shifts the burden of risk from investors, executives, and shareholders to taxpayers and the broader economy. 4. The 2008 financial crisis and the subsequent bank bailouts have increased the concentration of wealth, power, and systemic risk within the banking industry, showing the need for greater financial and economic resilience. Section 3: Prohibitions (a) It shall be unlawful for any federal agency, department, or entity, to provide financial assistance, including but not...