Although the names on the list are supposed to be secret aig and Prudential, two insurers, this week confirmed they are on it. So too did ge Capital, the conglomerate's financial arm. These firms, and perhaps others, have joined America's largest banks and clearinghouses in being designated "systemi-cally important financial institutions" (sifis) by the new Financial Stability Oversight Council, a regulatory watchdog. What that means in practice is that because they are thought to be significant enough to blow up America's economy, they should get special attention. An appeals process against being labelled a sifi will last for 30 days, but discussions have been going on for years so it is hard to believe minds will be swayed now.
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