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Volcker: Obama Plan May Lead to More Bailouts

Former Fed chief faults strategy of 'too big to fail'

By the Associated Press

Posted Sep 24, 2009 5:27 PM CDT

(AP) – A top White House economic adviser says the Obama administration's proposed overhaul of financial rules preserves the policy of "too big to fail" and could lead to future bailouts. Former Fed chief Paul Volcker told Congress that by designating some companies as critical to... Read full story »

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Volcker: Obama Plan May Lead to More Bailouts

Former Fed chief faults strategy of 'too big to fail'

Wall Street • General Motors • Paul Volcker • AIG • bailout • bank regulation • Obama administration • Wall Street bailout

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More Newser Stories

Bailout Tab Plummets; Companies Quick to Repay

Expected costs down from $250B to $89B in past year

Wall Street Bonuses Ripe for Tea Party Rage

Big finance could face populist pitchforks

50% Pay Cuts for Bailout Execs Due Today

Warren confirms cuts to 25 top earners at 7 companies

Pay Czar Slashes Top Salaries at 7 Bailed-Out Firms

175 top earners will see pay cuts averaging 50%

Paulson Still Dogged by Ethics Queries

Ex-Goldman exec coddled firm as Treasury sec, critics say

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