KC Fed President Issues New Report Calling For 'Break Up' Of J.P. Morgan, Goldman, Citigroup & Bank Of America

Mar 5, 2011 at 10:07 AM
Dr. Pitchfork in bank of america, break up the banks, citi, dodd-frank, financial regulation, goldman sachs, jp morgan, kansas city fed, thomas hoenig, too big to fail, too big to fail

Originally published Feb. 24.

In a report just released today, Kansas City Fed President Thomas Hoenig lays it all out in black in white:  Dodd-Frank has done absolutely nothing about Too Big To Fail, and for that reason "[w]e must break up the largest banks" (2).

A screenshot from the report:

This isn't the first time Hoenig has suggested breaking up the largest TBTF banks, but his earlier statements were made during the course of interviews.  This latest call comes in an official report and carries the imprimatur of the Federal Reserve system.  That's a shot across your bow, Jamie Dimon.

• Read Hoenig's Complete Report at the KC Fed - PDF

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Hear from Hoenig himself...

This is Hoenig's best public speech.

Video:  Hoenig speaks to a local Kansas City Tea Party group - Sep. 23, 2010

Related...

• Hoenig Calls For Break-Up Of Mega-Banks, Attacks Wall Street

 

 

Evolutionary biology's answer to Citigroup.

Article originally appeared on The Daily Bail (http://dailybail.com/).