Hoenig calls for fundamental redesign of broken financial system

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The US should bust up its megabanks and impose strict laws curbing the size and complexity of financial institutions, a top Federal Reserve official told The Huffington Post. In a 45-minute interview, Federal Reserve Bank of Kansas City President Thomas Hoenig called for a fundamental redesign of a broken US financial system.

Hoenig, an unparalleled deficit- and inflation hawk, is the longest-serving Fed policy maker and a voting member of the Federal Open Market Committee (FOMC).

Click here for the article.

Source: The Huffington Post, April 2, 2010.

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