That might sound like a Bernie Sanders sound bite, but it’s actually from a speech that the Federal Reserve Bank of Minneapolis president gave Monday.
Nearly eight years after the financial crisis shocked the global economy and caused a massive recession, the consensus view is that big Wall Street banks are a lot safer now.
But are they safe enough?
“I am skeptical that current efforts to fix that problem will ultimately work,” said Neel Kashkari, the head of the Minneapolis Fed.
It’s unusual to hear someone from within the Fed be so critical of Wall Street regulation, since the Fed is one of the main watchdogs over big banks. Earlier this month Fed chair Janet Yellen defended all the ways regulators like the Fed have made the system safer.
Read More: http://money.cnn.com/2016/04/18/investing/banks-too-big-to-fail-neel-kashkari/index.html
Source: CNN (18 April 2016)