the president of the Federal Reserve Bank of Dallas, captured the growing political mood with regard to very large banks, observing, "I believe that too-big-to-fail banks are too dangerous to permit."?
Market forces don't work with the biggest banks at their current sizes, because they have great political power and receive almost unlimited, implicit subsidies in the form of protection against downside risks — particularly in times like these, with Europe’s financial situation looking precarious. Mr. Fisher added:
Read Full Article »