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Dallas Fed Reserve CEO: Ending 'Too Big to Fail': A Proposal for Reform Before It's Too Late

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Headlined to None 1/21/13
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At www.dallasfed.org

Tonight, I wish to speak to a different kind of repression--the injustice of being held hostage to large financial institutions considered 'too big to fail,' or TBTF for short. I submit that these institutions, as a result of their privileged status, exact an unfair tax upon the American people. Moreover, they interfere with the transmission of monetary policy and inhibit the advancement of our nation's economic prosperity. We contend that Dodd--Frank has not done enough to corral TBTF banks and that, on balance, the act has made things worse, not better. We submit that, in the short run, parts of Dodd--Frank have exacerbated weak economic growth by increasing regulatory uncertainty in key sectors of the U.S. economy. It has clearly benefited many lawyers and created new layers of bureaucracy. Despite its good intention, it has been counterproductive, working against...

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At www.dallasfed.org


 

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I commend the Dallas Fed for taking this on - es... by Scott Baker on Monday, Jan 21, 2013 at 4:04:44 PM
The dallas fed says no one saw the crash coming - ... by Poor old Dirt farmer on Tuesday, Jan 22, 2013 at 9:21:32 AM
Nice thought but I'll believe it when I see it.&nb... by Sister Begonia on Tuesday, Jan 22, 2013 at 3:13:03 PM
Does anyone but me see the M3 decline of $1T/year ... by Toby Seiler on Wednesday, Jan 23, 2013 at 7:13:54 AM
Ellen Brown says it is $4 trillion, and other writ... by Scott Baker on Wednesday, Jan 23, 2013 at 12:37:07 PM