More to think about:
Fed’s Kashkari: More steps needed to prevent meltdown repeat
Neel Kashkari says he believes the biggest banks still continue to pose a “significant, ongoing” economic risk. Kashkari, a key architect of the 2008 federal bailout of the financial industry, is now president of the Federal Reserve’s regional bank in Minneapolis
Kashkari’s comments about breaking up the nation’s biggest banks addressed a proposal Sen. Bernie Sanders of Vermont has been pushing in his Democratic presidential campaign. Kashkari did not endorse such a move but he said it should be studied.
There you have it, straight out of the mouth of a member of that private banking organization appointed to oversee the entire US economy – he thinks Socialist candidate Bernard Sanders’ idea of breaking up banks is worth studying, and that FEDGov “should do more” to avert a 2008-like repeat crisis. Note that he was also “a key architect of the 2008 federal bailout of the financial industry.”
When these guys start talking like this in public, one has to wonder what the talk is like in their closed door meetings. As Paul Harvey used to say, “Stand by for NEWS!”