Too-Big-To-Fail Banks Need To Be Broken Up

HUFFINGTON POST:  Richard Fisher, president of the Dallas Fed, has been a critic of Wall Street’s disproportionate influence since the financial crisis. But he was now taking his message to an unusual audience for a central banker: a high-profile Republican political action committee.

Fisher said the existence of banks that are seen as likely to receive government bailouts if they fail gives them an unfair advantage, hurting economic competitiveness…

“They represent not only a threat to financial stability but to fair and open competition  (and) are the practitioners of crony capitalism and not the agents of democratic capitalism that makes our country great,” said Fisher, who has also been a vocal opponent of the Fed’s unconventional monetary stimulus policies…  (more)

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Updated: March 16, 2013 — 3:18 pm