'Too Big To Fail' Bill Threatens Global Unity On Bank Rules
By Evan Weinberger
Law360, New York (April 26, 2013, 7:28 PM EDT) -- A bipartisan U.S. Senate bill introduced Wednesday aims to combat the problem of so-called too big to fail banks by slapping financial institutions with 15 percent capital requirements, a measure experts say would put the U.S. on its own path and effectively end international cooperation on bank rules.
The Terminating Bailouts for Taxpayer Fairness Act, S. 798, was introduced by Sen. Sherrod Brown, D-Ohio, and Sen. David Vitter, R-La. A key plank of the bill would be to see the U.S. abandon efforts to implement the...