Fed official stands by Wall Street reforms, says must complete work

Over $700 TRILLION in derivative debt, not to mention $3.4 TRILLION of unfunded (gambled away) state and union pension and retirement funds all across the country… yeah, ya think the TBTF needs to end? I’d say the sooner the better …and better late than never!

Justice League

The United States “absolutely must” complete unfinished work ending the too-big-to-fail bank problem that helped plunge the global economy into recession eight years ago, an influential Federal Reserve policymaker said on Saturday.

In remarks that appeared to pre-empt President-elect Donald Trump, who has promised to roll back Wall Street regulations, New York Fed President William Dudley said much progress has been made making the financial system “less prone to panics.”

“Still,” he said in prepared remarks, “there is more to do before we can say that we have ended ‘too big to fail.’ This is work that we absolutely must complete.”

Dudley’s comments, to a Group of 30 meeting of top world regulators, came a day after another powerful regulator at the U.S. central bank, Daniel Tarullo, also warned against “backsliding” after years of implementing the landmark 2010 Dodd-Frank financial-reform law.

Challenges especially remain in regulators safely and smoothly handling…

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1 thought on “Fed official stands by Wall Street reforms, says must complete work

  1. The American people have lost all trust in receiving any kind of relief from our government. We are all watching to see if we elected a president that will finally keep his promises. His competitor was not even an option. This movement was so obviously due to lack of trust and having little faith if none in the present system. We the people are not stupid. We are aware! We are devastated and barely hanging on to hope due to the actions taken against us the present government. We are saying our prayers and raising our hopes for a better future. This can only happen if the swamp is drained and the federal reserve is ended and the TBTF banks CEO’s and enablers are prosecuted.

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