The Dallas Fed Is Calling For The Immediate Breakup Of Large Banks [View all]

[Julian Englis]

Source: The Business Insider

Richard FisherIt's hard not to think it's a big deal when a branch of the Federal Reserve system calls for the breakup of major American banks.

The bank has just released its annual report, and the title of the letter is: Choosing the Road to Prosperity Why We Must End Too Big to Fail—Now.

Here's the full letter from Dallas Fed President Richard Fisher, generally known as one of the most hawkish and conservative Fed Presidents.

Letter from the
President
If you are running one of the “too-big- to-fail” (TBTF) banks—alternatively known as “systemically important financial institutions,” or SIFIs—I doubt you are going to like what you read in this annual report essay written by Harvey Rosenblum, the head of the Dallas Fed’s Research Department, a highly regarded Federal Reserve veteran of 40 years and the former president of the National Association for Business Economics.


Read more: http://www.businessinsider.com/dallas-fed-calls-for-breakup-of-big-banks-2012-3#ixzz1plgWWQ7l

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I am surprised that this is not bigger news.