Wanted: Skilled executives willing to take over large, failing U.S. financial firms at a moment’s notice.
Among the issues facing U.S. regulators as they work through how they would use new powers to seize and liquidate a large U.S. bank, or other big financial firm, is who could run the institution as it goes through the process.
On Wednesday it was a question the Federal Deposit Insurance Corp. put to an advisory committee it has set up to help the agency work through its responsibility to liquidate a stumbling financial giant.
Agency officials asked if a pool of candidates could be established.
The committee response? That will be difficult to do.