Robert Reich: Break Up the Big Banks, Says the Dallas Fed
Chancellor’s Professor of Public Policy, University of California at Berkeley; Author, ‘Aftershock’
As the Supreme Court shows every sign of throwing out “Obamacare” and leaving 30 million Americans without health insurance, another drama is being played out in the quiet corridors of the Federal Reserve system that may affect even more of us.
Taxpayers will be on the hook for another giant Wall Street bailout, and the economy won’t be mended, unless the nation’s biggest banks are broken up.
That’s not just me talking, or the Occupier movement, or that wayward executive who resigned from Goldman Sachs a few weeks ago. It’s the conclusion of the Dallas Federal Reserve, one of the most conservative of the Fed’s regional banks. Read more: Robert Reich: Break Up the Big Banks, Says the Dallas Fed.