On the recordSeptember 23, 2009
One of the huge problems that we had and one of the reasons TARP was created, there was no resolution mechanism to deal with highly complex bank holding companies.
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congress.govBob Corker: “One of the huge problems that we had and one of the reasons TARP was created, there was no resolution mechanism to deal…”
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Corker discusses the lack of resolution mechanisms for complex banks as a reason for TARP.
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