On Monday morning, Washington awoke to learn that Commerce Secretary John Bryson had been involved in a series of auto accidents in southern California on Saturday evening, and cited with a felony hit-and-run by responding police. This news was of course shocking. For several hours, the White House and the …
The Obama Administration tried to portray the plan as no big deal, akin to simply filling in a loophole. The idea was to provide the FDIC with authority to seize failing “non–banK” financial institutions such as holding companies, insurance firms and hedge funds, similar to the powers they already have …
