Republicans Should Take Up 'Too Big to Fail' in 2012
Lou Dolinar, NRO
The Cato Institute’s Arnold Kling wrote an excellent piece for NR about a year ago on why we need to break up the big banks — a position that, at the time, many would have considered fringe at best. However, in a recent white paper, Thomas M. Hoenig, president of the Federal Reserve Bank of Kansas City, says much the same thing:Today, I am convinced that the existence of too big to fail financial institutions poses the greatest risk to the U.S. economy.
The Cato Institute’s Arnold Kling wrote an excellent piece for NR about a year ago on why we need to break up the big banks — a position that, at the time, many would have considered fringe at best. However, in a recent white paper, Thomas M. Hoenig, president of the Federal Reserve Bank of Kansas City, says much the same thing:Today, I am convinced that the existence of too big to fail financial institutions poses the greatest risk to the U.S. economy.