"resolution authority" over non-bank financial firms for months, viewing it as one of the most important tools for dealing with future crises.
give a government agency the power to take over a failing firm and dissolve it outside of the bankruptcy process, injecting money if necessary to make the unwinding orderly. Shareholders and creditors of the failing company would incur losses, and the financial industry would foot the bill for any bailout.
Click on the following for more details: Bill in works to let U.S. dissolve failing firms - washingtonpost.com
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