The Federal Deposit Insurance Corp. came out swinging last week against two writers — Peter Wallison of the American Enterprise Institute and David Skeel, a law professor at the University of Pennsylvania — for their April 7 Wall Street Journal op-ed piece criticizing the Senate regulatory reform bill.

Wallison and Skeel took issue with provisions in Sen. Chris Dodd's bill to give the FDIC authority — with the backing of a $50 billion industry fund — to resolve financial behemoths such as American International Group, similar to how the agency now resolves banks.

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