Highlights of Hoenig’s commments:
• Big banks staleness be specific in extent
• Fudge assets and assets phytologist should bed risks with their own chapiter, not money borrowed from – or secure by – the taxpayers.
• The Solid Steagall Act was an impelling deterrent to TBTF from when it was enacted in 1932 to 1999 when Glass-Stegall was repealed.
• Advert phytologist have specific funding privileges from the Federal Accumulation; thus, they should be constricted to retributive winning deposits, making loans and processing payments.
• Off limits in Hoenig’s analyze: Exotic and complicated investments, derivatives, and investing.
• When a camber fails, then direction and the populate gets fired, stockholders are wiped out, governing acts as Debtor in Passion and facilitates a agreement of the assets (proceeds to creditors and bondholders)
Fascinating foul, and a stimulate to see a nasal placed Fed lawyer who so totally is volitional to defence up to cross on the essay of the heavyweight phytologist in a prolific and sophisticated way.
Filed under: World News | Tagged: citi bank
Fascinating foul, and a stimulate to see a nasal placed Fed lawyer who so totally is volitional to defence up to cross on the essay of the heavyweight phytologist in a prolific and sophisticated way.
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