The Federal Deposit Insurance Corporation (FDIC) has established new rules that should stop companies from taking excessive risks. Taxpayers should no longer suffer from mistakes made by managers, which did happen a few years ago when companies like AIG almost went under due to risky deals that were made by staff people and often based on wishful thinking. The American government had to take over firms in problems and civilians who had nothing to do with it, became victims. To prevent this in the future, creditors and other business partners will be punished stronger: when a company goes bankrupt, they won’t see their invested money back. FDIC declares that the fear that creditors and shareholders will leave a company in trouble is misplaced because managers will be more careful and not make too risky deals.Because of the fact that many of these giant financial companies are global firms, these new rules will need to correspond with rules in foreign countries. That’s why the FDIC requested these nations to point out further remarks on its proposal.
Sander Van Ouytsel
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