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Essay text:
The ideal situation, insofar as there can be any "ideal" in the case of a failure, in the case of a failure of an intermediary should be the ability to wind down the business without loss to the customers and counterparties and without systemic damage.
Market intermediaries should be subject to adequate and ongoing capital requirements along with any other prudential requirements as may be necessary. The ideal situation, insofar as there can be any "ideal" in the case of a failure, in the case of a failure of an intermediary should be the ability to wind down the business without loss to the customers and counterparties and without systemic damage...
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