US Senate rejects proposal to break up largest banks

The U.S. Senate rejected a proposal that would split up the six largest banks in an effort to ensure that large financial firms do not threaten the economy if they fail.

US Senate rejects proposal to break up largest banks

The U.S. Senate on Thursday rejected a proposal that would split up the six largest banks in an effort to ensure that large financial firms do not threaten the economy if they fail.

The measure, which failed by a vote of 33 to 61, would have placed hard limits on banks' market share of insured deposits and limited the size of their non-deposit liabilities.

Reuters

Last Mod: 07 Mayıs 2010, 15:38
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