Dallas Fed Calls Out Too Big To Fail Banks
Too Big To Fail used to be a joke.
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.
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.
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