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Treasury's Lew says committed to ending too big to fail
July 17, 2013 / 1:09 PM / 4 years ago

Treasury's Lew says committed to ending too big to fail

NEW YORK (Reuters) - U.S. Treasury Secretary Jack Lew said on Wednesday that the United States is committed to ending a policy of “too big to fail” where large institutions receive considerable government assistance if they get into trouble.

U.S. Treasury Secretary Jack Lew testifies before a Senate Banking hearing on "The Financial Stability Oversight Council Annual Report to Congress." on Capitol Hill in Washington May 21, 2013. REUTERS/Kevin Lamarque

At the CNBC Institutional Investor Delivering Alpha Conference, Lew also said the deadline for the U.S. debt limit is artificial and urged Congress to do its job and pay its bill.

At a time when the country is grappling with tax reform, the Treasury secretary said “tax reform would be a good thing.”

Reporting By Svea Herbst-Bayliss; Editing by Chizu Nomiyama

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