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U.S. Banks Detail Crisis Plans
The Wall Street Journal (online registration required): WASHINGTON—Major Wall Street banks said they will sell business lines, let the government take over certain subsidiaries and enter into bankruptcy proceedings to avoid a taxpayer-funded bailout in the event of another financial crisis.
The latest round of so-called living wills, released by regulators Thursday, showcased the disparate approaches banks plan to take to dismantle their firms in times of severe market stress.
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