Regulator Fears Ban on Big Bailouts
From Associated Press
WASHINGTON — Forbidding protection of uninsured depositors in “too big to fail†bailouts of large banks would risk the financial equivalent of a nuclear meltdown, John LaWare, a Federal Reserve Board member, said Tuesday.
LaWare was joined by Federal Deposit Insurance Corp. Chairman L. William Seidman, Comptroller of the Currency Robert L. Clarke and Treasury Undersecretary Robert R. Glauber.
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