Social welfare costs from bank resolution, including contagion and moral hazard, are often thought to be minimized when supervisors can direct the merger of a failing bank with a sound, healthy one.

The situation highlights complications that can arise in the kind of multiaffiliate model that Franklin uses. Western came to Franklin as a part of its 2020 acquisition of Legg Mason. Most ...

1775: Angelo Braschi is chosen as Pope Pius VI. 1804: New Jersey becomes the last northern state to abolish slavery. 1852: Great Ormond St Hospital for Sick Children in London admits its first patient ...