Bank Of England Exposes US Cronyism: Questions Why Buffett’s Berkshire Hathaway Is Not Too Big To Fail

admin Alternative Media, Blogosphere, Government

If you thought currency-wars were a problem, just wait until crony-wars begin. In a stunning show of disagreement among the omnipotent, The FT reports that a Freedom of Information Act request has confirmed The Bank of England wrote to US authorities seeking clarity about Berkshire’s absence from a provisional list of “systemically import” (Too Big To Fail) financial institutions (SIFIs). The US Treasury declined to comment…
With MetLife suing the US government to try to escape being deemed systemically important by Washington (which means the firm may need to hold more capital to cover unexpected losses and could face a requirement to draw up ‘living wills’ to make them easier to wind down in a crisis), The FT reports on questions over Berkshire Hathaway’s status…

This post was published at Zero Hedge on 04/20/2015.

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