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)
The Top 5 Business News Stories to Watch for Today
59:59 - Omega Advisors Founder, CEO and Chairman Leon Cooperman and Bloomberg's Erik Schatzker and Stephanie Ruhle report on the top five business stories of the day. They speak on "Bloomberg ‹GO›." (Source: Bloomberg)
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