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Bank Of England Shields Taxpayers In Failed-Bank Plan

By Cara Salvatore (October 23, 2014, 6:26 PM EDT) -- The Bank of England laid out a plan to handle future bank failures Thursday, saying it would act unilaterally over a "resolution weekend" to replace management and initiate stabilization transactions — a regime aimed at shielding taxpayers and the broader financial system from bearing the costs of the collapse. ...

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