Skip to main content


December 7, 2012

Watch out for the second US cliffhanger

Another week, another round of shadow boxing on the edge of America’s fiscal cliff. But as Washington and Wall Street nervously try to work out whether there will be a $600bn fiscal shock on December 31, there is a second potential “cliff” investors should be watching, this time in relation to the banks.

At the end of this month, the so-called Transaction Account Guarantee programme, which the Federal Deposit Insurance Corporation introduced as a supposedly “temporary” measure during the height of the 2008 financial panic, is finally scheduled to end. Outside the ranks of financial policy makers and corporate treasurers, not many people know what TAG is. Little surprise: bank insurance schemes are a mystery to most non-bankers, and TAG never sounded nearly as exciting as, say, the AIG bailout.”




Read full Financial Times article here

In the News


For media inquiries, please contact us at or 202-618-6433.

Contact Us

For media inquiries, please contact or 202-618-6433.

To sign up for our email newsletter, please visit this page.

This field is for validation purposes and should be left unchanged.

Sign Up — Stay Informed With Our Monthly Newsletter

This field is for validation purposes and should be left unchanged.

For media inquiries,

please contact or 202-618-6433.


Help us fight for the public interest in our financial markets, protecting Main Street from Wall Street and avoiding another costly financial collapse and economic crisis, by making a donation today.

Donate Today