NEW YORK ( The Deal) -- Prudential Financial's (PRU - Get Report) decision not to sue the government for designating it a "systemically important" firm is a sign that other large financial institutions that come under new sweeping oversight of federal regulators won't file lawsuits either.Last month, Prudential received the designation by the Financial Stability Oversight Council, the group of regulators charged in the wake of the 2008 crisis with identifying emerging threats to the economy. The council said that the big interconnected insurance firm would have a hard time selling assets in a period of financial stress and as a result could "inflict significant damage on the broader economy" should its financial condition become desperate.
The Deal: Prudential Doesn't Sue U.S.; Other 'SIFIs' Aren't Likely To Either
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