Ending Too Big to Fail: Financial Regulation after Dodd-Frank

The Penn Social Science & Policy Forum, Penn IUR and the Wharton School held a talk by former FDIC Chairman Sheila Bair followed by a panel discussion on financial regulation featuring Bair and Wharton Professors Franklin Allen, Richard Herring and Susan Wachter. As Chairman of the FDIC during the financial crisis, Chairman Bair fought a public – if not always successful – battle against government bailouts and decried the lack of adequate tools to deal with failing financial conglomerates. She successfully sought new authority in the Dodd-Frank financial reform law to place all large financial institutions under the same type of receivership process the FDIC has successfully used for insured banks, thus shifting the financial burden of failure onto creditors and shareholders, not taxpayers.

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