Gordon Schnell, Mar 19, 2013
As they appeared before the U.S. Senate Banking Committee last month, financial regulators seemed more than a bit discomfited when asked about the last time they took a big bank to trial. It was a rhetorical question more than anything. And the media played it up as another example of what some see as the government’s “too-big-to-fail” approach to regulating the banking sector. In fact, there was more to it than that. The Committee’s not-so-su
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