A federal judge raised tough questions yesterday over regulators’ decision to designate the insurer MetLife as “systemically important” to the financial system, the New York Times reported today. U.S. District Judge Rosemary Collyer focused on how a body of regulators, known as the Financial Stability Oversight Council, made its decisions about companies that could harm the economy, as well as whether regulators followed their own guidelines in the MetLife case. MetLife sued the government in January 2015 after regulators determined the insurer was a “systemically important financial institution,” that could damage the entire economy in times of distress. The company is being represented by Eugene Scalia, a partner at the law firm Gibson, Dunn & Crutcher and the son of Justice Antonin Scalia.
