Politics & Government

December 8, 2009 4:31 PM

For the feds, some Wall Street firms are too big — to punish

Forget too big to fail. In the eyes of federal regulators, many Wall Street firms are too big to punish. These firms, including Bank of America, Citigroup and AIG, got, sometimes repeatedly, special exemptions from the Securities and Exchange Commission that have saved them from a regulatory death penalty that could have decimated their lucrative mutual fund businesses.

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