Jenner & Block

Partner Timothy Karpoff Discusses Wall Streets’ Attempt to Rewrite “Too-Big-To-Fail” Bank Contracts

Jenner & Block Partner Timothy A. Karpoff was interviewed on “Bloomberg Markets” for his insight on Wall Street's recent attempt to expand a rewrite of financial contracts worth trillions of dollars in an effort to persuade regulators that giant banks can be wound down without hurting the broader economy.   The changes are expected to allow certain securities and funding contracts to remain intact for as long as 48 hours after a bank fails, according to Bloomberg.  The extra time is intended to give a faltering bank’s home government time to jump in and set up a healthy version of the doomed institution.  Mr. Karpoff, a former Treasury Department official, gives background on the situation and discusses the implications. 

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