Friday, April 2, 2010
on the High Seas at the Federal Reserve
this story about the Kansas City Fed President Thomas Hoenig (pictured to the right) stomping up and down asking Congress to enact bright-line banking rules for two reasons. The first was that I thought it came out of Barry Ritholtz's feed, not Ezra Klein's. I thought wrong; but at least it's a guest blogger! The second is that it means that the underlings who report to people like Tim Geithner and Ben Bernanke aren't exactly enthusiastic about the weak-sauce regulatory proposals that have come from on high. We're going to need a lot more of this is real banking reform stands any chance against Wall Street's army of lobbyists.