Tag Archives: Thomas Hoenig

It’s the Derivatives, Stupid!

Thomas Hoenig, vice chairman of the Federal Deposit Insurance Corporation, said in an Aug. 13 interview with Reuters that the main reason the U.S. Financial Services Oversight Board of regulators decisively rejected the big banks’ “living wills” on Aug. 8, … Continue reading

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FDIC Vice-Chair Hoenig: “Separate Out Commercial Banks from Those Doing Broker-Dealer Trading Activities”

FDIC Vice-Chair Thomas Hoenig pointed to a number of problems which still threaten the soundness of the U.S. banking system in interview published in the May 20, 2014 CNN/Fortune magazine in an interview with Eleanor Bloxham, CEO of the Value … Continue reading

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Hoenig Chafes Congress for Not Passing Glass-Steagall, Says Big Bank Bailouts Coming Again

In a speech titled “Can We End Financial Bailouts?” to the Boston Economics Club on May 7 and posted on the website of the Federal Deposit Insurance Corp., FDIC Vice-Chairman Thomas Hoenig answered, essentially, “No, we can’t, because Congress hasn’t … Continue reading

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No to Bail-In: Leading Economist Says Hoenig Is Right, Dudd-Frank Wrong

A lengthy article by former IMF chief economist Prof. Simon Johnson calls FDIC vice chairman Thomas Hoenig’s debunking of the ‘bail-in’ menace on Feb. 24, “Truth from the Top” and “a devastating critique of the existing [Dodd-Frank] order.” Johnson called … Continue reading

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Kansas City Fed Chief Ester George: Glass-Steagall Needed to End TBTF Regime

Speaking Jan. 9 before the Economic Forecast Luncheon of the Wisconsin Bankers Association, Kansas City Federal Reserve President Esther George issued a clear call for implementing Glass-Steagall as the most effective means to eliminate the Too Big To Fail (TBTF) … Continue reading

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“Hoenig Rule”—Bank Separation—a Better Bet Than Volcker Rule

Who needs the Volcker Rule, argues Washington Post columnist Alan Sloan in his column on Thursday entitled “The Volcker Rule: A Triumph of Complexity over Common Sense.” Sloan doesn’t have much use for the Volcker Rule, which he describes as … Continue reading

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“The Volcker Rule Won’t Work”

In an interview with Deutsche Welle, Prof. Bill Black slams the Volcker Rule and cites the urgent need for “thinking boldly” and restoring Glass-Steagall. Black says, “[The Volcker Rule] won’t work because it will be too easy to evade.” Besides … Continue reading

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`Wall Street On Parade’: Clarity on Glass-Steagall

The latest column of Pam Martens’s widely-read “Wall Street on Parade” blog takes on the Federal Reserve’s hyperinflationary money-printing policy with Glass-Steagall. Entitled, “The Official Video from the Federal Reserve on How It Creates Electronic Money”, the piece describes the … Continue reading

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Bail-in is Admitted to be probable trigger

First, European Central Bank chairman Mario Draghi’s letter to the EC chief was revealed, warning that “bank bail-ins” had better not be tried in the current environment because their mere possibility would trigger “bondholders’ runs” potentially causing big, systemic banks … Continue reading

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Default Is Not the H-bomb, It’s the Trigger

Confirming the underlying panic among bankers about this first in a potential series of U.S. Treasury default crises, one well-informed banker told LPAC today that hyper-leveraged Wall Street banks are facing a threat of collapse. He laid out the “worst … Continue reading

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