MidSouth Bank’s Cloutier headed back to Capitol Hill

Rusty Cloutier, MidSouth Bank president and CEO, is headed back to Capitol Hill today to testify for the second time in two weeks. Cloutier will testify this afternoon before the House Subcommittee on Courts and Competition Policy on banks that are “too big to fail.” Cloutier, who is representing independent community banks, will continue to make his argument that excessive financial concentration was instrumental in creating the current financial crisis. He says that Congress should break up deteriorating major banks and sell off their operational units as a means of solving the current financial crisis.