Geithner hints at fund to cover bank losses
Treasury Secretary says he will propose legislation to create a 'systemic risk fund' to insure against failures.
WASHINGTON (Reuters) -- Treasury Secretary Timothy Geithner said on Wednesday he will soon propose legislation to create a systemic risk fund that would be backed by large financial institutions and would cover losses if those companies were to fail.
"Our judgment is that it needs to be a separate solution where the burden of funding ... (is) borne by the large institutions in a level proportionate to their size," he told a meeting of community bankers. 
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