CIT's Thain Says Too-Big-to-Fail Threshold Should Be Raised

  • Thain says about 10 banks actually pose systemic threat
  • CEO says a House bill focusing on complexity a better approach

About 10 banks are actually too big to fail, and the asset threshold for determining whether a firm should face additional regulatory oversight should be raised, said John Thain, chief executive officer of CIT Group Inc.

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