Treasury rejects notion of too big to fail

April 19, 2013 by Arthur D. Postal, Liz Festa

There will be no more bailouts of financial institutions, a top official of the Obama administration said Thursday night in what appears to be an attempt to pre-empt Republicans efforts to water down the Dodd-Frank Act.

“No financial institution, regardless of its size, will be bailed out by taxpayers again,” Mary J. Miller, U.S. Treasury undersecretary for domestic finance, said at a financial conference in New York.

Miller’s unequivocal comments appeared aimed at removing one of the hammers being wielded by Republicans against the Obama administration. Click here to read…

Originally Posted at LifeHealthPro on April 19, 2013 by Arthur D. Postal, Liz Festa.