'Too big to fail' political row escalates

The political and regulatory debate about how firms that are 'too big to fail' should be treated escalated with the passage of an amendment in the US Congress that would enable banks to be broken up.

On November 18, the US House Financial Services Committee passed an amendment proposed by congressman Paul Kanjorski that would allow US federal regulators to break up financial firms that "are so large, interconnected or risky that their collapse would put at risk the entire US economic system

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