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MetLife’s ‘too big to fail’ tag is ‘arbitrary, capricious’: U.S. judge

By Lisa Lambert WASHINGTON (Reuters) – Federal regulators' decision to designate insurer MetLife Inc as “too big to fail” was “arbitrary and capricious,” the U.S. judge who struck down the determination last month wrote in an opinion that was unsealed on Thursday. The U.S. government plans to appeal the court decision, a Treasury spokesman said in a statement late on Thursday. Treasury Secretary Jack Lew said he strongly disagreed with the decision and the government would vigorously defend the work of the Financial Stability Oversight…

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MetLife’s ‘too big to fail’ tag is ‘arbitrary, capricious’: U.S. judge