Tuesday, April 17, 2012

Too Big To Fail

Richard Fisher, president of the Federal Reserve Board of Dallas, says the financial reform bill is too complicated and still leaves the system at risk. Go figure.

Source: Top Fed Official: “The Moment Is Now” to Break Up Big Banks

1 comment:

  1. Are those pesky derivatives still be used today, even after all that's happened? No way! Our trusted leaders would never allow that to happen again.

    J.P. Morgan reveals surprise $2 billion trade loss

    The losses stemmed from trades at the bank’s chief investment office, where a single trader -- dubbed the “London Whale” -- was reported to have taken large positions for the bank in credit-default swaps.