Is Fed Endorsing Ending to Too Big to Fail?

Posted To: MND NewsWire

Annual reports from financial institutions rarely make the best seller list, but the one published by the Federal Reserve Bank of Dallas is beginning to rocket around the Internet because of an essay it contains. The essay, written by Harvey Rosenblum, Executive Vice President and Director of Research at the Bank is titled ” Choosing the Road to Prosperity: Why We Must End Too Big to Fail – Now. ” The essay is stunning enough in and by itself, but in an accompanying cover letter the Dallas Fed’s President Richard Fisher expressly endorses it, in effect putting at least a part of the Federal Reserve System on record as advocating an end to Too Big to Fail (TBTF) institutions. “In addition to remaining a lingering threat to financial stability,” Fisher says, “these mega banks significantly hamper…(read more)

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