FDIC Slams "Too-Big-To-Fail" Banks

FDIC should have power to unwind "too-big-to-fail" banks, Bair says

Sheila Bair, chairwoman of the Federal Deposit Insurance Corp., says the concept of financial institutions that are "too big to fail" should be thrown out and that her agency should be given the authority to close "systemically important" financial institutions. "Given our many years of experience resolving banks and closing them, we're well-suited to run a new resolution program," she said.

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