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May 17, 2013

May 15, 2013 – House Financial Services Oversight Subcommittee hearing entitled "Who is Too-Big-To-Fail: Does Title II of the Dodd/Frank Act Enshrine Taxpayer-Funded Bailouts?"

This Subcommittee meeting, another in the Oversight panel’s hearing series dealing with Dodd/Frank themes, focused on the controversial issue of whether or not the existence of SIFIs implies that the federal government maintains a too-big-to-fail policy.

Testimony from witness who believe too-big-to-fail policies prevails cited the authority for the government to create a resolution fund as proof that federal authorities can and will not hesitate to expense taxpayer’s monies. Those who suggest provisions within Title II of Dodd/Frank preclude federal bailouts argue that resolution funds protects deeper losses and would be repaid through the sale of assets or, if necessary, through assessments on the financial industry. They also point out that the requirements of living wills for SIFIs and other supervisory safeguards mitigate against the potential of taxpayers dollars in another financial crisis.

Congressional Activities

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