Proposed rules mean losses to creditors
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WASHINGTON - the Federal regulatory agencies are proposing rules mean shareholders and other creditors large financial companies with stranded, seized by the Government should be prepared to suffer losses and receive no money from taxpayers.
Federal Deposit Insurance Corp. Tuesday opened the rules in .the public comment ' agency was empowered by the Act adopted financial review last summer to choose the creditors of a company having failed could receive additional payments beyond what they get in a normal bankruptcy proceedings.
Officials said FDIC some creditors get supplémentaires.Ils payments could include, for example, suppliers allowing the Government to continue operations essential business such as paying employees.
"It's very important that market understands that it is not a bailout", an agency official said in a conference call with reporters.
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