Too-Big-To-Fail Banks Back on Senate Agenda
December 7, 2011
Posted by on
Bloomberg reports that the TBTF issues again is being addressed in the Senate. Senator Brown (D-Ohio) has earlier tried to limit the size of mega banks in the Dodd-Frank legislation, but failed then. Today there will be a hearing in the Senate Senate Subcommittee on Financial Institutions and Consumer Protection to again address the issue. Among the witnesses will be Sheila Bair, former head of the FDIC and an outspoken critic of the large banks.
Also on the hill, yesterday there were hearings on the implementation of the Dodd-Frank bill. Chairman Johnsen noted that he in particular looked forward to progress report on the rule making for the Volcker rule. Not surprisingly, the financial industry, and the Fed and the US Treasury, think the proposal is not such a good idea. The web-cast from the hearings, including Fed governor Turello is posted here.