The
government has given more power to the Federal Reserve but the agency
has had perhaps too much power up to now. The big problem is the
possibility of any banking institution failing and then dragging down
another.
Unfortunately,
the regulators have historically never been good at this, and I doubt
they ever will. The 2010 Dodd-Frank legislation has merely made it
more of a debacle for big banks to fail.
That
spells out more senseless bailouts.Want
more information? (See the Earl J. Weinreb NewsHole® comments and
@BusinessNewshole tweets.)
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