New SIFMA CEO Judd Gregg and Federal Reserve Bank of Dallas President Richard Fisher have different approaches on how best to limit taxpayer exposure to the biggest banks. While Fisher favors only extending government guarantees to commercial banking portions of bank holding companies, Gregg prefers an option touted by Sen. John Cornyn, R-Texas. "You basically create, on the 'too-big-to-fail' issue, a bankruptcy option, rather than have some sort of arbitrary capital requirements," Gregg said.

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