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May 9, 2012 - Senate Banking Committee Financial Institutions Subcommittee hearing entitled "Is Simple Better? Limiting Federal Support for Financial Institutions."

The three panel hearing focused on the feasibility of size and leverage ratios being applied to the nation's larger financial institutions.

Former Fed Board Chairman, Paul Volcker, urged more certainty about the possibility of government financial assistance in the event a systemically important financial institution faces insolvency. He also spoke for immediate implementation of the so-called Volcker Rule, regulations to implement the Dodd/Frank prohibition on proprietary trading.