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Washington
Inside Washington (04/15/2010)
* WASHINGTON (4/16/10)--Richard Fisher, Federal Reserve Bank of Dallas president, said Wednesday that financial institutions believed to be “too big to fail” need to be broken up (American Banker April 15). Fisher said he would support measures to bring the financial institutions down to a manageable size. Regulators have debated mechanisms that would make failures at financial institutions more orderly, and while this would be a step forward, Fisher said it falls short. The sound thing to do is to dismantle the institutions over time so they can be “prudently managed and regulated,” he said. He spoke before an event in New York sponsored by the Levy Economics Institute of Bard College ... * WASHINGTON (4/16/10)--Two members of the House have introduced legislation that would save the Department of Agriculture’s Single-Family Housing Guaranteed Loan Program, which is expected to use its funding in the coming weeks. Rep. Shelley Moore Capito (R-W.Va.) introduced a bill Tuesday to increase the guarantee fee to 3% or 4% from the current 2%. Separately, Rep. Paul Kanjorski (D-Pa.) introduced a bill that would have the lender pay a 3.5% upfront fee when the loan is issued, along with an annual assessment of 0.5% of the outstanding balance. Neither programs cost taxpayers. The bills are expected to be discussed in committee before a final bill moves to the House floor (Dow Jones April 15) ...


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