FDIC, Treasury Say Goodbye To 'Too Big To Fail'

Law360, New York (October 22, 2009, 4:16 PM EDT) -- In an effort to prevent a repeat of the 2008 financial system collapse, Obama administration officials have promised to end the reign of “too big to fail” thinking, in part by expanding the authority of the Federal Deposit Insurance Corp.

Testifying before the U.S. House of Representatives subcommittee on commercial and administrative law on Thursday, FDIC policy adviser Michael Krimminger and U.S. Department of the Treasury assistant secretary Michael S. Barr called for a resolution process to supplement bankruptcy court and provide a new way to...
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