Momentum Builds For Federal Risk Regulator

Law360, New York (March 5, 2009, 12:00 AM EST) -- With several of the nation's largest financial institutions once considered “too big to fail” teetering on the edge of doing just that, the idea of a federal regulator tasked with managing systemic risk is gaining steam in Washington.

At a hearing of the House subcommittee on capital markets, insurance and government-sponsored enterprises on Thursday, representatives of several financial industry groups said that it was vital to have such an institution in place to protect the financial system from a future meltdown.

“The ongoing crisis in our...
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