Question! (about an amendment to Dodd-Frank; referrals welcome!) [View all]

I'm posting about this here because I know that, at least for a while, there was an Occupy committee that gave detailed comments on the then-pending Dodd-Frank legislation. I recently came across an article about an amendment to Dodd-Frank that I found very concerning, and I'd like to see more analyses of the effects of the amendment from sources I trust (eridani has posted about this article on DU previously, though not in this group):

http://www.truthdig.com/report/item/a_crisis_worse_than_isis_bail-ins_begin_20151229 - "A Crisis Worse Than Islamic State? Bank ‘Bail-Ins’ Begin."

The gist as I understand it is that in Greece, depositors' savings are being drained BEFORE derivatives counterparties or bank shareholders have to take any haircut – AND that that same "Orderly Resolution" process is now the law in the U.S. under Dodd-Frank, thanks to a sneaky little amendment.

This, combined with concerns about the inadequacy of FDIC insurance funds, makes for a very scary picture.

Unfortunately, the gist of the article seems only too plausible at this point; but I looked at one or two of the sources quoted in it, and one of them wasn't really about the same point(s); i.e., the quote was excerpted and used in a way that was, at least to me, slightly misleading. That may have been unintentional . . . .

I've found almost nothing else online that's directly on point. Here are links to what I did find (not reassuring):

http://seekingalpha.com/instablog/693913-andrew-sachais/3068725-fdic-coverage-and-dodd-frank-what-it-could-mean-for-your-deposits - FDIC Coverage And Dodd Frank – What It Could Mean For Your Deposits
{by Andrew Sachais}
Jul 15, 2014 5:30 PM

http://www.nakedcapitalism.com/2013/03/when-you-werent-looking-democrat-bank-stooges-launch-bills-to-permit-bailouts-deregulate-derivatives.html : When You Weren’t Looking, Democrat Bank Stooges Launch Bills to Permit Bailouts, Deregulate Derivatives
Posted on March 19, 2013 by Yves Smith

I'm hoping for input from others with more expertise who can confirm or refine what the article seems to say.