And Wow: Fed's Hoenig Says United States Has "Deeply Undermined Free-Market Capitalism"

The Fed mutiny has arrived:

  • HOENIG SAYS U.S. HAS `DEEPLY' UNDERMINED FREE-MARKET CAPITALISM
  • HOENIG WARNS OF ESCALATING SERIES OF CRISES WITH RISING COSTS
  • HOENIG: LARGE FINANCIAL FIRMS CAN EXPECT BAILOUTS IN FUTURE
  • HOENIG SAYS BIG FINANCIAL FIRMS MUST NOT HOLD ECONOMY `HOSTAGE'
  • HOENIG: LARGE FIRMS WERE `GAMING' CAPITAL STANDARDS PRE-CRISIS
  • HOENIG:BIG FIRMS `HAVE SIGNIFICANT INCENTIVES' TO INCREASE RISK
  • HOENIG: TOO-BIG-TO-FAIL FIRMS POSE `GREATEST RISK' TO ECONOMY
  • HOENIG SAYS BIG FINANCIAL FIRMS ENJOY `HUGE' FUNDING ADVANTAGE

And the last one:

  • FED'S HOENIG SAYS `HISTORY IS ON MY SIDE'

Step. away. from. the. bathtub. Tom.

In other news, someone at the top finally tells the truth about this shitshow of a banana republic.

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