“Beginning to break them, to dismember them, is a fair thing to consider.”
-Federal Reserve Bank of Kansas City President Thomas Hoenig.
One of the few people associated with the Federal Reserve who a) actually seems to understand the problems and 2) does not seem to be captured by the banks is Kansas City Federal Reserve Bank President Thomas Hoenig.
At a meeting of the American Economics Association, Hoenig made statements calling for:
1. Maintaining a break up of TBTF as an option;
2. Defining and regulating banks with $50 billion or more in assets more aggressively than smaller banks;
3. Recognizing that when it comes to banks, “size matters;
4. Develop new rules to shut down failing firms in an orderly way;
Hoenig: Let Big U.S. Banks Fail (August 20th, 2009)
KC Fed Pres Hoenig on “Negotiated Conservatorship” (April 22nd, 2009)
Fed’s Hoenig Warns on Too-Big-to-Fail, Backs Glass-Steagall
Luca Di Leo
Real Time Economics, January 5, 2010
Please use the comments to demonstrate your own ignorance, unfamiliarity with empirical data and lack of respect for scientific knowledge. Be sure to create straw men and argue against things I have neither said nor implied. If you could repeat previously discredited memes or steer the conversation into irrelevant, off topic discussions, it would be appreciated. Lastly, kindly forgo all civility in your discourse . . . you are, after all, anonymous.