Break up the banks, says Minneapolis Fed chief - FT.com:
"America’s biggest banks pose a potentially “nuclear” threat to the US economy and regulators should consider breaking them up, according to the new head of the Minneapolis Federal Reserve.
Neel Kashkari, who was a key architect of Wall Street’s 2008 bailout, said the largest US lenders remain “too big too fail”. He said in his first public comments since becoming the head of the Minneapolis Fed at the start of the year that efforts to regulate the big banks since the financial crisis had not gone far enough."
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