Hoenig Says Big Financial Firms (i.e., JPMorgan, Goldman, Citi) Put "Capitalism At Risk"
So 3 years after bailing them out and making the Bernanke put the defacto trading policy of the MOMO/POMO generation, they finally realize they destroyed the system? Better late than never.
- HOENIG SAYS BIG FINANCIAL FIRMS PUT `CAPITALISM AT RISK'
- HOENIG SAYS POLICY MAKERS SHOULD `GO BEYOND' DODD-FRANK ACT
- HOENIG: SEPARATING PRIMARY DEALERS, BANKS WOULDN'T IMPEDE FED
We can only hope a closer reading of the last bullet means that Hoenig is now pushing for an end of Glass-Steagall. Expect to hear bankers screeching about tanks in the streets and mass suicides if a repeal of Gramm-Leach-Bliley is even mentioned.
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