“One admirable goal as expressed by President Obama as he signed Dodd-Frank into law was ‘to put a stop to taxpayer bailouts once and for all.’ But, it is not the anti-too-big-to-fail elixir Americans were promised. Quite the opposite—it has further enshrined too-big-to-fail. The criteria for designating non-bank financial institutions ‘systemically important’ to the financial system are—in characteristic Dodd-Frank style—imprecise. Having developed a taste for insurance companies, FSOC designated Prudential Financial as systemic in September. It is openly eyeing MetLife as the next member of this exclusive club.”
http://www.independent.org/newsroom/article.asp?id=4828
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