U.S. to seize troubled companies
U.S. seeks to expand power to seize troubled companies
As the public outcry over American International Group continues, the White House and the Federal Reserve proposed a plan that gives the government greater authority to take over financial institutions that pose a systemic risk and are on the verge of collapse. President Barack Obama said the AIG situation could have been handled more effectively if the government had the authority to take over financial firms similar to the power it has to seize troubled banks. The New York Times
As the public outcry over American International Group continues, the White House and the Federal Reserve proposed a plan that gives the government greater authority to take over financial institutions that pose a systemic risk and are on the verge of collapse. President Barack Obama said the AIG situation could have been handled more effectively if the government had the authority to take over financial firms similar to the power it has to seize troubled banks. The New York Times
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posted by Victor Lloyd Smith @ 9:21 AM
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