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« Rick Santelli On Gold ETFs: 'If World Collapses, You're Stuck With Paper' | Main | CHART: Stocks Vs. Bonds Vs. Gold »
Friday
Mar012013

Why A Fed President Wants To Break Up The Banks

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.

 

 

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Reader Comments (14)

WASHINGTON (MarketWatch) — The Federal Reserve is going to maintain its monetary policy of aggressive easing at the end of its two-day meeting Wednesday, and will keep it in place until there are signs of a broad-based expansion, economists said.

http://www.marketwatch.com/story/fed-to-press-ahead-with-bond-buying-2013-01-29
Jan 30, 2013 at 12:26 PM | Unregistered CommenterDailyBail
The euro reclaimed the $1.35 handle and pressed to its highest level versus the dollar since November 2011.

http://www.marketwatch.com/story/dollar-inches-up-as-traders-await-fomc-gdp-data-2013-01-30?Link=obnetwork
Jan 30, 2013 at 12:27 PM | Unregistered CommenterDailyBail
Hostess Brands Inc. is nearing a deal to sell its Twinkie brand and other cakes to private-equity firms Apollo Global Management and C. Dean Metropoulos & Co. for more than $400 million, said people familiar with the discussions.

http://online.wsj.com/article/SB10001424127887323375204578271812419478982.html?mod=mktw
Jan 30, 2013 at 12:29 PM | Unregistered CommenterDailyBail
SAN FRANCISCO (MarketWatch) — Investors were momentarily gleeful that online megaretailer Amazon.com Inc. reported slightly better operating results in the fourth quarter, but how long this euphoria will last is the big question, given the company’s razor-thin margins.

http://www.marketwatch.com/story/amazons-razor-thin-profit-margins-persist-2013-01-29
Jan 30, 2013 at 12:30 PM | Unregistered CommenterDailyBail
This guy should stay away from small aircraft.
Jan 30, 2013 at 12:58 PM | Unregistered Commentermick
Couple things:

-did not know GSuchs has depositors. Who are they and how much? Finally though, MSM reminds us that GSuchs is a bank holding company with Fed access; and

-does anyone else think it odd that a Fed prez' kids and yamilka Lloyd's kids hang (and likely the parents hang)? Raises questions for me and highlights the coziness of the Fed system and the players within.

BTW, wonder if Fisher still holds $1mil in gold?
Jan 30, 2013 at 1:56 PM | Unregistered CommenterJosie
Did not know GSuchs has depositors. Who are they and how much?

---

I've seen the numbers before - They are tiny. GS bought a bank when the Fed gave them a chance back in 2008 and PRESTO they became a bank holding company.
Jan 30, 2013 at 2:04 PM | Registered CommenterDailyBail
Richard Fisher's son is an actor who has appeared on Mad Men.

http://www.huffingtonpost.com/2011/11/22/miles-fisher-my-la_n_1105862.html

Jan 30, 2013 at 2:06 PM | Registered CommenterDailyBail
And this is interesting. More from Fisher's son.

Miles Fisher - American Psycho Spoof

http://www.youtube.com/watch?v=pUUA2j5tqUg

The action gets good starting at the 2 minute mark or so.
Jan 30, 2013 at 2:08 PM | Registered CommenterDailyBail
Interesting stats on the real unemployment

http://www.shadowstats.com/Alternate_data/unemployment-charts
Jan 30, 2013 at 3:12 PM | Unregistered CommenterBackgammon
'The system is biased towards Goldman Sachs and JPMorgan'---No sht Sherlock. Tell us something we don't know
Jan 30, 2013 at 4:17 PM | Unregistered Commenterrobertsgt40
Jan 30, 2013 at 11:42 PM | Unregistered CommenterTR

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