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The pieces of a more equitable fate for troubled financial giants are beginning to come into view as evidenced by this week´s private-sector rescue of CIT. The lender´s salvation may serve as a prop for future government bailout strategies. But its ordeal is also further proof that the government needs more power to seize and resolve large companies.
July 21
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Federal Reserve Chairman Ben Bernanke will be making the rounds in Congress this week to discuss the state of the economy while the other banking regulators prepare to voice their views on regulatory restructuring. The Office of the Comptroller of the Currency´s underwriting survey is due out early in the week, and the Treasury department is expecting by Thursday letters from the largest 25 banks detailing their progress on loan modifications.
July 17 -
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