“U.S. banks won’t be rescued by taxpayers, U.S. Treasury Department official Mary Miller said, rebutting investor skepticism that some lenders are too large to be allowed to fail. ‘With respect to this understanding of too-big-to-fail, let me be very clear: It is wrong.’
‘No financial institution, regardless of its size, will be bailed out by taxpayers again,’ Miller said at a conference in New York. ‘Shareholders of failed companies will be wiped out; creditors will absorb losses; culpable management will not be retained and may have their compensation clawed back.'”
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