Bair says Dodd-Frank will prevent future rescues

05/20/2013 | Washington Post, The

Sheila Bair, former head of the Federal Deposit Insurance Corp., says that language in the Dodd-Frank Act effectively eliminates government rescues of financial companies and has implemented a clear plan for resolving even the biggest banks in emergency situations. Bair also says that capital requirements spelled out by Basel III rules should be treated as a minimum that U.S. regulators can raise, and that recently considered legislation to roll back Dodd-Frank provisions relating to swaps would do more harm than good.

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