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Old April 12th, 2011, 06:56 PM   #1
myp
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Fed's Hoenig calls it like it is- big banks are government backed

source: http://www.reuters.com/article/2011/...16806220110412

Once more Thomas Hoenig is one of the only sane voices in the Fed, making a public statement that the big banks are essentially government sponsored enterprises and should be treated as such. Personally, I'd rather take it the other way and cut off the government entanglements so they can eat their own losses instead of having the taxpayers do it.
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