As the House Financial Services Committee considers legislation to confront systemic risk, one lawmaker is proposing an amendment that would grant the government authority to bust up institutions that are too big to fail.
Rep. Paul E. Kanjorski (D-PA), chairman of the Subcommittee on Capital Markets, Insurance, and Government Sponsored Enterprises, said this week the amendment was targeted at 15-20 financial services firms whose size and interconnectedness make their failure a threat to the nation's financial health.
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