Talk Radio News Service: News, Politics, Media

A House Judiciary Committee hearing was held regarding government banking consolidation and antitrust law.
Rusty Cloutier, President and Chief Executive Officer of the MidSouth Bank, and Albert Foer, President of the American Antitrust Institute was some of the participants that testified.

Foer discussed the role of antitrust laws and explained that most of the time they can not protect America from the “institutions that are too big to fail problem”. He also stated that there will always be some large institutions of such great financial importance that we cannot allow them to fail. Downsizing these institutions will not be a helping tool. Foer suggested that regulatory oversight and more restrictions on the scope and risk of the institutions would be a better solution.

Cloutier emphasized the importance of limiting large institutions, if they impose a threat.
“The only way to maintain a vibrant banking system where small and large institutions are able to fairly compete - and protect taxpayers- is to aggressively regulate, assessing and eventually break up those institutions posing a risk to out entire economy”, Cloutier said.