MetLife CEO Protests Possible ‘Too Big To Fail’ Designation

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MetLife’s Chairman and CEO Steven A. Kandarian is fighting federal regulators who would deem the nation’s largest life insurer as too big to fail.

MetLife was notified Tuesday by the federal Financial Stability Oversight Council (FSOC) that the company is at “Stage 3″ of a process to in determining if it is “Systemically Important Financial Institution,” known by the acronym SIFI.

“I do not believe that MetLife is a systemically important financial institution,” Kandarian said in a prepared statement. “The Dodd-Frank Act defines a SIFI as a company whose failure ‘could pose a threat to the financial stability of the United States.’ Not only does exposure to MetLife not threaten the financial system, but I cannot think of a single firm that would be threatened by its exposure to MetLife.”

Read the following Reuters story for more on this.

About Matthew Sturdevant

Full-time staff journalist at The Hartford Courant and magazine freelancer with a master's degree in writing from Dartmouth. My work has appeared in The Los Angeles Times, The Chicago Tribune, Taiwan News, The Baltimore Sun and many other news sources. My blog has been referenced by Politico.com, the Kaiser Family Foundation, the Georgetown Law Library and a number of organizations in healthcare and business. Sturdevant’s blog is "a well-written wealth of ideas," said The Donald W. Reynolds National Center for Business Journalism, (businessjournalism.org, May 18, 2011). I have experience writing for newspapers, magazines, Web sites and blogs as well as shooting and editing video. I made regular appearances on news-talk radio and on the NBC affiliate station in Corpus Christi, Texas. I made occasional appearances on the Fox affiliate in Connecticut promoting Hartford Courant articles.

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