NU Online News Service, May 6, 3:56 p.m. EDT
WASHINGTON–Congress may act quickly on legislation creating stronger resolution authority oversight for troubled financial institutions deemed "too big to fail," including insurers and hedge funds, Sen. Chris Dodd, D-Conn., chairman of the Senate Banking Committee, said today.
Such a resolution authority should have the power to sell the assets of the troubled institutions promptly to other companies, FDIC Chairperson Sheila Bair said.
Recommended For You
Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader
Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
- Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
Already have an account? Sign In Now
© Touchpoint Markets, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more inforrmation visit Asset & Logo Licensing.