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IPFS News Link • Economy - Economics USA

Fed President and Assistant Treasury Secretary Says What Everyone Knows: We Need to Break

• http://www.zerohedge.com

The President of the Federal Reserve Bank of Minneapolis – who oversaw the Troubled Asset Relief Program (TARP) as Assistant Secretary of the Treasury for Financial Stability (Neel Kashkari) – says that the nation's biggest banks remain too big to fail and pose significant risk to the economy

Kashkari joins the following top economists and financial experts who believe that the failure to rein in the "too big to fail" banks is unacceptable:

Current chair of the Federal reserve, Janet Yellen (and see this)

Former chairman of the Federal Reserve, Ben Bernanke

Former chairman of the Federal Reserve, Alan Greenspan

Former chairman of the Federal Reserve, Paul Volcker

Former Secretary of the Treasury Secretary, Hank Paulson

Former Secretary of Labor, Robert Reich

Current Vice Chair and director of the Federal Deposit Insurance Corporation – and former 20-year President of the Federal Reserve Bank of Kansas City – Thomas Hoenig (and see this)

Nobel prize-winning economist, Joseph Stiglitz

Nobel prize-winning economist, Ed Prescott

Nobel prize-winning economist, Paul Krugman

Chief Stability Officer at the Bank of England, Andrew Haldane (and see this and this)

Former Federal Reserve Bank of New York economist and Salomon Brothers vice chairman, Henry Kaufman

Dean and professor of finance and economics at Columbia Business School, and chairman of the Council of Economic Advisers under President George W. Bush, R. Glenn Hubbard

Former chief economist for the International Monetary Fund, Simon Johnson (and see this)

Former President of the Federal Reserve Bank of Dallas, Richard Fisher (and see this)

President of the Federal Reserve Bank of St. Louis, James Bullard

Deputy Treasury Secretary, Neal S. Wolin

The Congressional panel overseeing the bailout (and see this)

The former head of the FDIC, Sheila Bair

The head of the Bank of England, Mervyn King

The Bank of International Settlements (the "Central Banks' Central Bank")

The International Monetary Fund

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