Bailout funds miss the point: Joseph Mason column

Bailout funds miss the point


Among the most glaring problems in the Dodd-Frank financial reform bill is the ‘living will’ provision requiring banks to pre-plan bankruptcies and the Federal Deposit Insurance Corporation’s resolution paradigm for non-banks. But the more fundamental problem stems from the growing realisation that those provisions are still only ex-post reactions to distress, which do not support or encourage orderly reorganisation of weak firms.

Putting aside for a moment inter-agency disagreements which

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