KC Fed President Issues New Report Calling For 'Break Up' Of J.P. Morgan, Goldman, Citigroup & Bank Of America
In a report just released today, Kansas City Fed President Thomas Hoenig lays it all out in black in white: Dodd-Frank has done absolutely nothing about Too Big To Fail, and for that reason "[w]e must break up the largest banks"
A screenshot from the report:
This isn't the first time Hoenig has suggested breaking up the largest TBTF banks, but his earlier statements were made during the course of interviews. This latest call comes in an official report and carries the imprimatur of the Federal Reserve system. That's a shot across your bow, Jamie Dimon.
---Hear from Hoenig himself...
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