Barbara A. Rehm, an editor at large at American Banker, explains the three tools the Dodd-Frank Act provides for dealing with financial institutions becoming "too big to fail." The tools are "orderly liquidation authority, living wills and the Office of Financial Research," which has yet to really get off the ground. The White House has not nominated a director to lead the office. Rehm argues that the tools should be given a chance to work.

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