the issue is not just do we have authority to place systemic companies into a public receivership process. the issue is really developing a -- an integrated system of bank supervision, combined with bank resolution that allows us, in effect, a frame work of early intervention with these institutions to avoid failure, as well as the capacity to manage an orderly failure, if necessary. and i wanted to go through that with you, if i may. it's important to recognize up front that resolution is always the option of last resort. the purpose of the supervisory process is to make sure that institutions manage their risks so that the risk of failure is minimized. the goal is to have a supervisory process that can recognize problems early and encourage management to address problems in a proactive way. when an institution supervisory rating or capital adequacy is downgraded, the institution is subject to a variety of supervisory responses intended to encourage management to take prompt action. these supervisory actions may include specific criticisms of risk management practices, formal or informal

the bank, holding company affiliates into public receivership.that is authority that did not exist before and in addition, the new financial stability oversight council can designate any non-bank financial company i systemic and by doing so, when the subject to the full credentials supervision authority of the federal reserve and could also subject to two systemic resolution authorities said the dic to say back in 2008, the first three companies that triggered the crisis for bear stearns, lehman brothers and aig. two investment banks and the insurance company. so the importance of the new authority really speaks to us of. so these companies will now be required to develop the periodic planes to regulators. the plans will detail, how the top tier legal enterprises was in a subsidiary that conducts core business lines are critical operations to be resolved under the u.s. bankruptcy code. complementing this joint rule-making between the fed and the fdic, the fdic also issued a final rule requiring any fdic insured depository institution with assets

. >> in 2013 they're going to come out of receivership or conservatorship.ll have a giant amount of inventory on market. if we believe the public sector is better at renovating, managing and functioning as a reit, then so be it. i happen to believe that the private markets eventually, when the prices get to a level, we'll find that asset, rent rolls are actually increasing, and let's let capital, unrestricted, lower regulation, let's let it find the asset class in prices and get the government out of the housing market. >> james, thank you so much for joining us. >>> we're minutes away from the debt deadline in greece. it's literally 3 1/2 minutes. >>> we're back in two minutes' time back here on "street signs." >>> we're sitting here at 1367, moving up by over 1%. this is about 20 seconds away from the greek debt swap deadline. the nasdaq, we'll bring up that board for you, has -- let me see -- a gain of 1.2%.

the issue is not just, do we have authority to place systemic companies into a public receivership process. the issue is, really, developing a, an integrated system of bank supervision combined with bank resolution that allows us in effect a framework of early intervention with these institutions to avoid failure as well as the capacity to manage an orderly failure necessary. i want to just go through that with you for a minute if i may. it's important to recognize up front that resolution is always the option of last resort. the purpose of the supervisory process is to make sure that institutions manage their risks so that the risk of failure is minimized. the goal is to have a supervisory process that can recognize problems early and encourage management to address problems in a proactive way. when an institution's supervisory rating or capital adequacy is downgraded, the institution is subject to a variety of supervisory responses intended to encourage management to take prompt action. these supervisory actions may include specific criticisms of risk management practices, formal or info

entities in the federal government would decide whether they are going bankrupt and if they went into receivership and which entity would receive them. it is horrible for the federal government to decide winners and losers written by the very people that contributed to the financial problem that we had, chris dodd and barney frank. i'm full for 100% repeal of dodd-frank and if there are redeeming qualities, let's put them back into the law. dodd-frank needs to be repealed and need to pass the repeal of dodd-frank. michelle baum man has been the lead on that and drafted the legislation. she has been a strong and vocal advocate and so the other presidential candidates and we should do this for the american people, for the next president and do it to honor the effort of michele bachmann. next piece is official english. and almost every country has one official language. it has been so recognized throughout the ages. the single most powerful unifying force throughout humanity is common language. and so here in america, we are so fortunate that english is that language. and yet, there seems to be an op