When in 2009 Congress began considering financial reforms proposed by the U.S. Treasury, a “resolution project” group was established, under the auspices of the Working Group on Economic Policy at the Hoover Institution at Stanford, to focus on alternative ways  to deal with failing financial institutions.  The group’s members are Andrew Crockett, Darrell Duffie, Richard Herring, Thomas Jackson, William Kroener, Kenneth Scott, George Shultz, Kimberly Summe, and John Taylor, subsequently joined by David Skeel.

The group held a number of meetings in the fall of 2009, which led to several papers and a conference in December 2009, the results of which were published in 2010 as Ending Government Bailouts As We Know Them, edited by Kenneth Scott, George Shultz, and John Taylor.  The group continues to meet and work further on members’ analyses and proposals; relevant papers will be posted at this site.  The initial paper, a proposal for modified bankruptcy procedures to better handle the failure of large, nonbank financial institutions, written by Tom Jackson, was the result of considerable discussions within the group.