Lew says delays on rules may again bring bailouts
WASHINGTON — U.S. Treasury Secretary Jacob Lew says delays in writing rules to put the financial overhaul law into effect have raised the prospect that taxpayers might again have to bail out big banks that fail.
Lew says that means policymakers would have to consider new approaches. His comments came Wednesday at a conference organized by CNBC.
If rules putting the 2010 law in place aren't sufficient by year's end to eliminate the possibility of taxpayer bailouts, Lew says "We're going to have to look at other options." Lew didn't specify what the options might be.
He said the Obama administration has the same goals as the senators who recently proposed legislation that would force banks to split off their conventional lending and deposit-taking into separate companies from investment banking and other riskier activities.
- Share Facebook Twitter
Article sent to (required)E-mail
Article sent from (required)E-mail Name
Subject Line (article title)
Message (optional)Success - Article sent Click to close
Interested in reusing this article?
Custom reprints are a powerful and strategic way to share your article with customers, employees and prospects.
The YGS Group provides digital and printed reprint services for Daily Herald. Complete the form to the right and a reprint consultant will contact you to discuss how you can reuse this article.Need more information about reprints? Visit our Reprints Section for more details.
Contact information ( * required )Name * Company Telephone * E-mail *
Article InformationTitle URL
Message (optional)Success - Reprint request sent Click to close