Geithner says reform bill is closing in on "too big to fail" issue

03/30/2010 | CNBC

Treasury Secretary Timothy Geithner says legislation to overhaul the financial-regulatory system is getting closer to a stance that would guarantee that financial institutions would not be deemed "too big to fail" and that taxpayers would not be called upon to rescue the sector. "[Sen. Christopher Dodd's bill] makes the key point, which is that if big banks ever again manage themselves to the edge where they can't survive without government assistance, the government should have the ability to come in and dismember them," Geithner said.

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