FDIC wants fund to support financial firms in hard times

07/23/2009 | Bloomberg

Sheila Bair, chairwoman of the Federal Deposit Insurance Corp., asked lawmakers to create the Financial Company Resolution Fund, which would be funded by the largest financial companies in the nation. The fund would help troubled financial firms deemed too large to fail. The country should impose "assessments on large or complex institutions that recognize their potential risks to the financial system," Bair said. "This system also could provide an economic incentive for an institution not to grow too large."

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