“Quoting Thomas Edison, Marty Gruenberg recently said, “Vision without execution is hallucination.”
“It’s a clever quote and the chairman of the Federal Deposit Insurance Corp. was trying to convince an audience that his agency is well on its way to ending too big to fail via its strategy to resolve giant firms that get into trouble.
“But for folks following this policymaking closely, the quote backfired.
“It’s been nearly two years since the FDIC unveiled its so-called “single point of entry” approach, which is designed to implement the Dodd-Frank Ac’s mandate for orderly liquidations of systemically important financial companies.”
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