“U.S. finance chiefs often grumble about the tough rules imposed by the Dodd-Frank reforms that followed the 2008 crisis. But most went along with the various strictures, wary of fuelling another bout of anti-Wall Street hostility.”
“Not Steven Kandarian, chief executive of the insurer MetLife. He argued that the Obama administration had gone too far when it identified his company as a potential threat to the financial system that needed extra supervision.”
“It’s intolerable that a case that is so important to the financial stability of the country is almost entirely secret,” said Dennis Kelleher of Better Markets, a group that lobbies for tougher regulation.”
Read the full Financial Times article by Barney Jopson and Alistair Gray here.