Published November 5, 2014 9:31am EST | Updated January 8, 2015 2:49pm EST

Big Banks Should Be Able To Go Into Bankruptcy, Fed's Lacker Says

Richmond President Jeffrey Lacker said Wednesday that the Bankruptcy Code must be a viable option for large complex financial institutions to end the perception that some firms are too big to fail. "That means doing the hard work of making living wills credible, and it means policymakers and regulators must commit to using them," Lacker said at an event at the George Washington University Center for Law, Economics and Finance.