House Told DOJ Needs Antitrust Watchdog For Banks

Law360, New York (March 16, 2009, 12:00 AM EDT) -- As legislators took aim at so-called "too big to fail" financial institutions that have recently received federal bailouts, a U.S. House of Representatives subcommittee hearing focused not on whether Congress should act to reform laws governing competition in the financial sector, but rather how to change the regulatory structure.

At a hearing of the House subcommittee on courts and competition policy Tuesday, witnesses from banks, enforcement groups and watchdog organizations largely agreed that the creation of the financial giants such as American International Group Inc. and...
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