BoE’s Tucker says big US banks will now be allowed to fail
The Bank of England's deputy governor for financial stability, Paul Tucker, has said the US is now in a position to let most of its largest banks fail, but the resolution process will not necessarily be a smooth one.
In a speech at the Institute of International Finance 2013 annual meeting in Washington, DC, Tucker said he could not see how the US administration could persuade Congress to agree a taxpayer-funded bailout. US authorities have the "technology", he said, via Title II of the Dodd
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