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Wells Fargo’s Sloan Says U.S. Won’t Bail Out Big Banks Anymore

Wells Fargo & Co. (WFC) Chief Financial Officer Tim Sloan said the idea of banks being too big to fail is effectively over in the U.S.

The government has new tools to deal with a failing bank that wouldn’t lead to a 2008-style bailout, Sloan said today during an industry-sponsored panel discussion in New York. San Francisco-based Wells Fargo is the biggest U.S. home lender.

To contact the reporter on this story: Hugh Son in New York at hson1@bloomberg.net

To contact the editor responsible for this story: Peter Eichenbaum at peichenbaum@bloomberg.net

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