Are America's Megabanks Too Big to Fail?

June 28 (Bloomberg) -- Are America's biggest banks still too big to fail? Richmond Federal Reserve Bank President Jeffrey Lacker says yes. On Sunday's program, Lacker says Dodd-Frank's orderly liquidation authority makes the problem worse. "It’s structure in a way that it gives the FDIC the ability to rescue creditors, to help them escape losses in the event of a large financial institution failing," Lacker says. "To my mind, that perpetuates too big to fail because it gets at that short-circuiting of incentives that's the real heart of the problem." (Source: Bloomberg)
Germany, U.S. Losing Patience With VW: Siebert
32:36 - Jochen Siebert, managing director at JSC Automotive, discusses the Volkswagen emissions scandal, the company's top U.S. executive testifying in Washington and how deep the investigation could go. He speaks to Bloomberg's Angie Lau on "First Up." (Source: Bloomberg)
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