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The threat posed by too-big-to-fail banks should be eradicated by year’s end, and if not, more restrictive measures targeting large financial groups may be necessary, U.S. Treasury Secretary Jack Lew said Wednesday.

Lew’s remarks during a panel discussion in New York create perhaps the first marker by which to judge the Obama administration’s efforts to forever end the perception that policymakers would never allow a select group of financial institutions to fail because of the risk to the economy. It also represents a slight break from the Treasury Department’s previous positions, in which agency officials have sought to trump the end of too-big-to-fail and have disputed claims that it still exists.

“It’s unacceptable to be in a place where too-big-to-fail has not been ended,” Lew said. “If we get to the end of this year and we cannot, with an honest, straight face, say that we have ended too-big-to-fail, we are going to have to look at other options.”

[HUFFINGTON POST]

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