TPM Reader TW asks …
In all the news about derivatives compromises I’ve not seen any mention of how the other major issues were resolved. Will banks create a fund to pay for future meltdowns or will it simply be paid by selling off assets? What happens to financial institutions (not just banks) that take on too much risk? Will anyone in the govmt have the power and process to safely resolve their obligations? Did they come to any conclusion on whether anything was “too big to fail”?
Our Brian Beutler is up on the Hill dogging the story as we speak. We’ll try to get you those answers.
Josh Marshall is editor and publisher of TalkingPointsMemo.com.