We must be able to let a Bear go bust: Paulson

Hank Paulson, the US Treasury Secretary, called on Wednesday for a regulatory system that can withstand the failure of a large and complex financial firm.

"In my view, looking beyond the immediate market challenges of today, we need to create a resolution process that ensures the financial system can withstand the failure of a large, complex financial firm," Paulson told an audience in London.

"Today two concerns underpin expectations of regulatory intervention to prevent a failure. They are

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