Bair cautions lawmakers about proposal on breaking up banks

11/24/2009 | Reuters

Sheila Bair, chairwoman of the Federal Deposit Insurance Corp., said lawmakers should be careful about a proposal from Rep. Paul Kanjorski, D-Pa., that would give regulators the ability to break up major financial institutions. Bair called the proposal "a well-intended amendment" but said "we need to be careful. I think there is a safety and soundness issue." A House panel approved the amendment last week.

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