FDIC's Bair says "too big to fail" must end

10/5/2009 | Reuters

Sheila Bair, chairwoman of the Federal Deposit Insurance Corp., said at the Institute of International Finance meeting that it is time to end the "too big to fail" doctrine, which should be expanded to include hedge funds and large insurance companies. "We need to end 'too big to fail,' and this needs to be an overarching policy that applies to everyone," Bair said. She also said the FDIC is working with the American Securitization Forum, an affiliate of SIFMA, and others about help from the agency to kick-start the securitization market by securitizing assets it took over from collapsed banks.

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