TBTF and the Bernie Effect

Bernie will win Minnesota without breaking a sweat. Minnesota’s Democratic party has deep socialist roots. There has been a major development there you are not likely to see on Fox News.

The President of the Fed in Minneapolis is calling for breaking up the “too big to fail” banks and getting even more aggressive than Dodd Franks of reining in banks being used as casinos with taxpayers picking up the losses.

https://www.minneapolisfed.org/news-and-events/presidents-speeches/lessons-from-the-crisis-ending-too-big-to-fail

Neel Kashkari is not some fringe socialist wacko. He not only is the President of the Minneapolis Fed, he was the guy who ran the TARP program under Bush, having to clean up the mess from 2008. He’s a Republican (Hindu!) and ran to become governor of California. He worked for Henry Paulson at Goldman Sachs, then went to work for Pimco. He would have been much more competent as Fed Chairman than Janet “Being a woman makes me smart” Yellen. Despite their similar appearance, Janet Yellen is no Alan Greenspan.

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One Response to TBTF and the Bernie Effect

  1. CC1s121LrBGT says:

    The way Bush “solved” the to big to fail issue was to forcefully merge large banks with each other so that there were fewer of them and they were each bigger as a result.

    “I’ve abandoned free market principles to save the free market system” – George W. Bush
    https://www.youtube.com/watch?v=Tmi8cJG0BJo

    I am still puzzled why the press went nuts when Donald Trump criticized George W Bush. I am not a Trump supporter but cracked up when Trump said that you know Jeb! is in trouble because he changed his last name from an Exclamation point back to Bush. lol

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