Richard Fisher's plan.
'The system is biased towards Goldman Sachs and JPMorgan.'
Excellent Bloomberg interview. Dallas Federal Reserve President Richard Fisher details his plan to break up the banks. Here's a quick summary:
- There are 12 banks that meet the criteria for too big to fail.
- Dodd-Frank is killing small community banks.
- Fed is constantly reassessing stimulus.
- QEternity is false. Will not last forever.
- Voted against latest round of QE.
- Worried about Treasury bubble bursting.
- Worried about Fed's exit strategy.
- Biggest inflation hawk on the Fed and he sees little inflation.