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

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 Un...