House Bill Aims To Break Down Banks Deemed Too Big To Fail

Law360, Washington (April 27, 2012, 6:33 PM EDT) -- Two Democratic congressmen introduced a bill Thursday that would push the U.S. Department of the Treasury to crack down on potentially oversized banking and financial institutions and break them into smaller entities.

The bill — named the Too Big to Fail, Too Big to Exist Act — is sponsored by Reps. Brad Sherman, D-Calif., and Maurice Hinchey, D-N.Y., who say it will eliminate federal bailouts by doing away with huge financial corporations that could destabilize the U.S. economy if they fail.

“Never again should a financial...
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