PLS HURRY IN A TESTT
During the 2008 financial crisis and the bailouts that followed, the government was unwilling to let the biggest banks fail, for fear of upending the financial system. As part of the overhaul, Congress created a process to shut down financial companies whose failure could threaten the system.

Most players agree that this is a good idea, despite some differences on the details.

The Federal Deposit Insurance Corp., the agency responsible for closing smaller banks that falter, has taken the lead on writing rules to shut down big firms. Most observers believe that the FDIC, under acting chairman Martin Gruenberg, is on track toward creating a system that markets would trust to close a big bank.

Banks have been working with regulators to create "living wills" detailing how they would wind themselves down without disrupting markets. This exercise has forced them to look more deeply at their operations—a defense against the accusation that banks have grown "too big to manage."

—From The Associated Press, "How will JPMorgan's $2B loss affect banking rules?" May 15, 2012

Which statement from the passage best shows how the Federal Deposit Insurance Corporation (FDIC) carries out the responsibilities of the federal government?

Congress created a process to shut down financial companies whose failure could threaten the system.
Banks have been working with regulators to create "living wills" detailing how they would wind themselves down without disrupting markets.
The FDIC, the agency responsible for closing smaller banks that falter, has taken the lead on writing rules to shut down big firms.
This exercise has forced them to look more deeply at their operations—a defense against the accusation that banks have grown "too big to manage."