The largest Wall Street banks have had their living will bailout prevention plans approved, marking a milestone that further reduces the already-remote possibility that they would be broken up by the government, Ryan Tracy at The Wall Street Journalreports.
US regulators said eight the firms, including Bank of America, Goldman Sachs, Citigroup, JPMorgan, Morgan Stanley and Wells Fargo, didn’t have “deficiencies” in plans documenting how they could go bankrupt without needing a taxpayer bailout.
