MetLife Is Indeed `Too Big to Fail,' U.S. Tells Skeptical Judge
- Judge sharply questions U.S lawyer on label's justification
- Biggest U.S. insurer says it poses no threat to economy
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A U.S. lawyer defending the government’s decision to designate MetLife Inc. a potential threat to the economy was questioned sharply by a federal judge who was asked by the company to remove the label.
The Financial Stability Oversight Council, a group of regulators led by Treasury Secretary Jacob J. Lew, has asked U.S. District Judge Rosemary Collyer in Washington to throw out MetLife’s 2015 lawsuit, which contends the FSOC designation was arbitrary and unjustified.