Dallas Fed President Richard Fisher Says Break Up The Big Banks, End Too Big To Fail Era

Posted: April 16, 2012 by ShortTimer in Economics, Mike in East Texas
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HT to Mike in East Texas.  Mike mentioned tonight that Fisher wanted to break up the big 5 banks in order to end the era of “too big to fail”, due to the ridiculous amount of debt and finance that just 5 banks control.

The Blaze also hit this barely-reported story up:

A recent report by the Federal Reserve Board of Dallas accuses the nation’s largest banks of being “a perversion of capitalism” and “a clear and present danger to the U.S. economy.”

The report titled “Choosing the Road to Prosperity Why We Must End Too Big to Fail—Now“ goes on to say the infamous Dodd-Frank bill, which was supposed to “regulate” the financial industry, “may actually perpetuate an already dangerous trend of increasing banking industry concentration.”

JPMorgan, Bank of America, Citigroup, Wells Fargo and U.S. Bancorp, hold 52 percent of all U.S. deposits, according to the report, which makes that whole “too big to fail” problem seems a lot worse now than it did before Dodd-Frank.

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  1. […] Dallas Fed President Richard Fisher Says Break Up The Big Banks, End Too Big To Fail Era (thepatriotperspective.wordpress.com) […]

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