Nationalization: A Step Closer

26 Mar

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Finally, after a year of delays, the Treasury secretary and the Fed chairman have agreed about the need for a new insolvency regime for systemically important financial institutions (bank holding companies and non-bank financial institutions). This new insolvency regime will allow government to take over in an orderly way–as opposed to a disorderly Lehman-like bankruptcy–insolvent systemically important financial institutions.

For the entire article click here.

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