EXCERPTS:And of course, politicians will decide who is too "systemically important" and who isn't.
“Part of the problem is nobody really has a mandate for the whole system right now,” she said.
. . .
Ms. Bair also said that Congress should create incentives to shrink the size of the nation’s too-big-to-fail institutions, perhaps by demanding that they set aside far greater capital reserves or contribute more money to insurance programs that would help in closing them if they stumbled again.
. . .
She advocated giving the F.D.I.C., or some other entity, the legal authority to quickly manage the closing and resolution of “systemically important institutions” — in addition to giving the F.D.I.C. the power to shut down bank holding companies — just as it now has with individual troubled banks.
March for Science: Wrong Direction and Speed - I'm late to this party, but there remains something to be said, so I'll say it here. (The first I'd heard of this was a question from my wife about it on t...
21 hours ago