That is the question…
Interesting times we live in. And we need to ask whether the recent unprecedented comments by Neel Kashkari, the newly appointed President of the Minneapolis Federal Reserve, to break up the big banks is genuine or too good to be true and a political smokescreen.
Former Goldman Sacks vice president Kashkari is a Republican and a former senior Treasury official under George W. Bush and President Barack Obama, who led the first TARP program. He recently declared that the present rules which are supposed to protect tax payers and the economy from bank failures fall short and the U.S. is very much at risk for another financial crisis.
His unprecedented statements are calling forth potshots and questions from all sides of the political aisle.
Richard M. Bowen III