{"id":20499,"date":"2014-10-12T06:27:03","date_gmt":"2014-10-12T04:27:03","guid":{"rendered":"http:\/\/www.w-t-w.org\/en\/?p=20499"},"modified":"2014-10-12T06:27:03","modified_gmt":"2014-10-12T04:27:03","slug":"bankruptcy-in-large-usfinancial-institutions","status":"publish","type":"post","link":"https:\/\/www.w-t-w.org\/en\/bankruptcy-in-large-usfinancial-institutions\/","title":{"rendered":"Bankruptcy in Large USFinancial Institutions"},"content":{"rendered":"
The Jeffrey M. Lacker of the Federal Reserve of Richmond reports;\u00a0 Here are the highlights of my speach at the National Conference of Bankruptcy Judges Annual Meeting at Chicago, Ill.<\/p>\n
\n
The bankruptcy process is an effective tool for reconciling the incentives of creditors and debtors. Yet the government has a long history of handling large complex financial institutions outside the Bankruptcy Code.<\/li>\n
This has created two mutually reinforcing conditions: Investors feel protected by an implicit commitment of government support, and policymakers feel compelled to provide that support to avoid a disruptive adjustment of expectations.\u00a0\u00a0 Jeffrey Lacker’s Speech<\/strong><\/a><\/li>\n<\/ul>\n
![\"Bankruptcy\"](\"http:\/\/www.w-t-w.org\/en\/wp-content\/uploads\/2014\/10\/Bankruptcy.jpg\")
<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"