[GPSCC-chat] Federal Reserve of Dallas critical of some large banks

[Gerry Gras]

"Breaking Up the Banks - The Dallas Fed Weighs In"
http://www.commondreams.org/view/2012/03/23-11

"The most dramatic part of the report and the covering letter by Dallas 
Fed President Richard W. Fisher is that they call for a “downsizing” of 
these megabanks. Their primary argument is that financial institutions 
remain “too-big-to-fail,” risking another painful and damaging bailout 
if a large financial crisis is threatened.   In their view, the 
continuing cloud of too-big-to-fail hanging over the economy is simply 
intolerable and costly."

"When competition declines, incentives often turn perverse and 
self-interest turns malevolent."

Gerry