Oppenheim Law

Dallas Fed Calls Out Too Big To Fail Banks

Blog post   •   Mar 29, 2012 18:00 EDT

Dallas Fed Calls Out Too Big To Fail Banks

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Too Big To Fail used to be a joke.

It became an insult hurled by Occupy Wall Street or the Tea Party at the big banks, but that’s all it was.

It was never an expression that had any legitimacy. It was just a nice little way for the media to classify the banking industry in a ready-made slogan.

Guess what?  Too Big To Fail isn’t a joke anymore. It’s actual policy towards our nation’s biggest financial institutions.

The Federal Reserve of Dallas has now legitimized my scathing criticisms of the banks in their annual report and it has resonated with with everything I’ve been writing in this blog.

It was a nice early birthday present when I got home yesterday and read the report, written by the head of the Dallas Fed’s research department. Harvey Rosenblum.

When Greg Smith published his critique of Goldman Sachs, the aftershocks rang through the halls of every office on Wall Street.

After reading Rosenblum’s report, which was subtitled  “Why We Must End Too Big To Fail — Now”, I can only imagine what will happen now.

To continue reading our  commentary, please click on the link below.

Source: South Florida Law Blog (http://s.tt/18sYJ)