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Top Fed Official Says Megabanks Need To Shrink Or Crises Will Keep Occurring

Business  (tags: Community Banks, Derivatives, Federal Reserve, Federal Reserve Bank Of Kansas City, Financial Crisis, Financial Reform, Kansas City Fed, Main Street, Megabanks, Regulatory Reform, Tbtf, Thomas Hoenig, Too Big To Fail, Volcker Rule, Wall Street )

- 3346 days ago -
The U.S. financial system is tilted in favor of the biggest banks, compromising the "very foundation of the economic system" and putting the nation at risk of continued crises, a top Federal Reserve official said Wednesday.


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. (0)
Thursday March 25, 2010, 4:04 am
I would like to say the government, the banking syndicates and powerful private groups are are taking down the U.S. in order to serve her up for a single global government. Mass protest is the only avenue left to counter this forced transition as the allied corporate state is now more powerful than government.
m3 zero

David Petrosky (113)
Thursday March 25, 2010, 5:07 pm
It's not where my natural interest lies, but bank regulation is actually more important than the healthcare bill that just passed. Bank local! Borrow local!

Kay O (0)
Thursday March 25, 2010, 7:00 pm
Bank of America, pay attention. I have a credit card with them because they bought out the smaller bank
associated with my card. I have them by default. Lousy, obnoxious, arrogant service, numerous mistakes.
Wish I could close my account with them but it will ruin my very good credit rating. I do have savings and
checking with a credit union.

Helen Snyder (13)
Thursday March 25, 2010, 8:34 pm
Noted. I changed from a TBTF bank to a local bank last month. My paltry account won't make or break anyone .. it is the principle. I told the TBTF why I was closing my account and my local back why I was opening a new acount. :)

Matloob ul Hasan (81)
Thursday March 25, 2010, 9:31 pm
Noted, thanks.

Dianne D (490)
Friday March 26, 2010, 9:44 am
I concur. Banks are out of control. They are only in the business for themselves and their stockholders.
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