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Every year, the federal government issues thousands of regulations.According to the U.S. General Accounting Office (GAO), federalagencies produced 5,476 final rules between April 1, 1996, andAugust 21, 1997.
It has long been understood that deposit guarantees and too-big-to-fail (TBTF) policies create a moral-hazard problem—they incentivize banks to take on too much risk by shielding depositors and shareholders from losses in excess of equity (“left-tail” outcomes)—in American banking.1 Congress passed the Federal Deposit Insurance Corporation Improvement Act (FDICIA) in 1991 to mitigate the moral-hazard problem by restricting forbearance and implicit subsidies for undercapitalized banks.
BG982: Preparing for the Jobs Summit: The Five Principles ofJob Creation
(Archived document, may contain errors) 9/28/90 284 THE TEXTILE IMPORT RESTRICTION BILL DESERVESA BUSH VETO