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Saturday, May 26

Cut up Morgan Chase, cut up those thieves now

Cut up Morgan Chase, cut up those thieves now.

In a posting May 23 on MarketWatch.com, "What Washington is eyeing after J.P. Morgan trade," author Robert D. Orol reports that Republicans might rally around Thomas Hoenig, former chairman of the Kansas City Fed and an advocate of Glass-Steagall, who in March became a Commissioner on the Board of the Federal Deposit Guarantee Corporation.

Orol writes, "Another idea [for today's financial mess] that has some Congressional staffers and legislators talking is a concept put forward by former Kansas City Federal Reserve Bank President Thomas Hoenig that would bar big banks from broker-dealer activities or sponsoring hedge funds or buyout firms outright.

Posted by Howiecopywriter at 6:28 AM

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