Too Big to Fail or Too Big to Save?: Examining the Systemic Threats of Large Financial Institutions

Too Big to Fail or Too Big to Save?: Examining the Systemic Threats of Large Financial Institutions

by Joint Economic Committee
     
 
This hearing is timely because Congress expects soon to take up legislation being prepared by the administration to address the Federal Government's inability to wind down nonbank financial institutions in an orderly way. The current financial crisis has made clear that we need additional tools to handle financial institutions that are too big to fail. The disorderly

Overview

This hearing is timely because Congress expects soon to take up legislation being prepared by the administration to address the Federal Government's inability to wind down nonbank financial institutions in an orderly way. The current financial crisis has made clear that we need additional tools to handle financial institutions that are too big to fail. The disorderly failure of large financial institutions can pose a significant threat to the stability of the financial system both in the United States and globally.

The panic after Lehman Brothers declared bankruptcy last September and the unprecedented drop in jobs during the months since then is evidence enough that under our present regulatory structure, allowing large financial firms to fail can seriously damage our economy. Another failure could have created even worse economic consequences with even deeper effects on employment, incomes and growth.

Product Details

ISBN-13:
2940013828698
Publisher:
United States Congress
Publication date:
12/09/2011
Sold by:
Barnes & Noble
Format:
NOOK Book
File size:
453 KB

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