Preparing/test run for the ‘BIG ONE’?
Britains Chancellor of the Exchequer George Osborne (R) speaks to U.S. Treasury Secretary, Jack Lew.(Reuters)
– Bankocalypse drill: US and UK to run ‘too big to fail’ collapse simulation (RT, Oct 11, 2014):
The US and UK will stage a comprehensive simulation next week check whether the countries’ financial and banking sectors are still vulnerable to the problem of the ‘too big to fail’ institutions and coordinate their actions in case of such collapse.
Government financial leaders from Britain and US will simulate a failure of a large banking institution on Monday in Washington, DC, to test the effectiveness of each county’s banking regulations.