NU Online News Service, May 6, 3:56 p.m. EDT
WASHINGTON–Congress may act quickly on legislationcreating stronger resolution authority oversight for troubledfinancial institutions deemed "too big to fail," including insurersand hedge funds, Sen. Chris Dodd, D-Conn., chairman of the SenateBanking Committee, said today.
Such a resolution authority should have the power to sell theassets of the troubled institutions promptly to other companies,FDIC Chairperson Sheila Bair said.
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