Posted on 06/15/2011 8:19:35 AM PDT by CNSNews
Washington (CNSNews.com) Christy Romero, the acting Special Inspector General for the TARP bank bailout program, told the House Financial Services Committee on Tuesday that the Dodd-Frank financial regulatory law may not end the too big to fail policy and the moral hazard surrounding it.
Testifying before the House Financial Services Committees Financial Institutions and Consumer Credit Subcommittee, Romero said that as far as the market is concerned, too big to fail is not dead.
The mere enactment of the Dodd-Frank act did not end the concept of too big to fail in the markets eyes, Romero said. So long as the financial institutions, counterparties, and ratings agencies believe there will be future bailouts, competitive advantages associated with too big to fail institutions will almost certainly persist.
(Excerpt) Read more at cnsnews.com ...
I am sure it still exists..what has changed..except we are poorer. Our government is still telling us bend $#J*
NOTHING is to big to fail.
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