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“too big to fail”

 We all know what the new rule book says; that when one of the world’s largest banks becomes close to going bust, then it is up to all of its debt and equity holders to pay for the rescue. That bit is clear. 

But financial history is littered with examples of rule books being ignored in the teeth of a crisis.

Simon Samuels, FT 22 Febr 2016


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