Dallas Fed President Wants to Break Up the TBTF Banks

Editor’s Note: It couldn’t be more obvious than if we were slapped in the face. We have 12 banks that are characterized as Too Big To Fail and that is controlling or economic and fiscal policies. We have created a class of untouchables — a new height to which nobody before you aspire.

Our country is run on credit effecting the financial system, energy resources, medical care and education to name a few. Fisher is 100% right that the system is leaning, as usual, away from community banks, credit unions and savings and loan associations (7,000 of them in the U.S. alone). Instead it leans toward the 12 banks that caused cataclysmic failure of our economy and financial system.

As long as we build our policies, laws, and regulations around an unsound premise — TBTF — we are absolutely certain to have another collapse, worse than the last one.

Click on the link below to see the interview.

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.

http://dailybail.com/home/why-a-fed-president-wants-to-break-up-the-banks.html

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