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frankkarl
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Fed Governor Proposes Reorganizing Banks Deemed "Too Big to Fail" - Mish - Global Economic Analysis

More bunk from the `bunksters`. With that moron Sandy Weill in tow. Sure, let`s strip out well financed real banks from these derivative monoliths and give them back to the corrupt a-holes that began this banking debacle. We`ll call this `restructured into multiple business entities `. And the balance of risk assets, well, we`ll figure out how to socialize those losses in due course. Must save our buddies first! I missed the part where Fed Fisher addressed the `marked to market `risk that his buddies want to leave behind.
The entire notion of TBTF is nothing but propaganda. What was not allowed to fail was the equity interests of the bank`s investors. That is what they are proposing again. Had those TBTF`s been allowed to fail, as they should have, the trillions in public capital would have been invested in recapitalizing those institutions rather than recapitalizing their investors. Fisher`s intention is to once again save the TBTF`s, surreptitiously, under the guise of doing us all a favor. Does anyone really believe that the private banking interests which own the Fed are not acting in their own interest, but rather, have the best interest of public capital in mind.
Sure, this time the scorpion will promise it`s sincerity for a ride across the river, and will not sting you. All we have to do is believe that a scorpion is not a scorpion!

Commented 4111 days ago

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Beginning of the headline :The Chicago Tribune reports Fed's Fisher: Reorganize banks that are "too big to fail" U.S. authorities should reorganize the country's largest banks to protect against the risk of institutions that are "too big to fail" and that would saddle ordinary Americans with the cost of a bailout the next time they get in trouble, a senior Federal Reserve official said on Wednesday. "We recommend that TBTF (too-big-to-fail) financial institutions be restructured into multiple business entities," Richar... Read More

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