Fed president: Top 5 banks should be broken up

This is no way for Dallas Fed President Richard Fisher to help get himself a high paying job in Big Finance. He should be finding excuses for why the largest US banks should get a free pass (and a free ride) on regulation that would protect the American taxpayer like most involved in the process. That way he can be just like former Obama economist Peter Orszag or perhaps the the soon-departing Tim Geithner, who will probably go to Wall Street when he steps down. The revolving door between Washington and Wall Street is the path to riches for those who love the fleecing of America, so Fisher needs to catch up on how the game is played. Someone needs to step in and help Fisher with his career killing words.

The financial crisis has left the five biggest banks even more powerful than before, he told an event in Mexico City. “After the crisis, the five largest banks had a higher concentration of deposits than they did before the crisis,” he said. “I am of the belief personally that the power of the five largest banks is too concentrated.”

An American in Paris, France. BA in History & Political Science from Ohio State. Provided consulting services to US software startups, launching new business overseas that have both IPO’d and sold to well-known global software companies. Currently launching a new cloud-based startup. Full bio here.

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