US ‘problem’ banks jump to 884 in December quarter: FDIC
Last year, a staggering 157 banks went belly up. High unemployment has resulted in rising defaults, which is adversely impacting small and medium banks.
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Biggest Banks Must Be Broken Up: Fed’s Hoenig
WASHINGTON – The systemic risks to the U.S. economy from the biggest U.S. banks is even worse than before the financial crisis, and therefore the biggest banks must be broken up,said Thomas Hoenig, the president of the Kansas City Fed on Wednesday. Hoenig said regulators should expand the Volcker Rule and carve out business lines that are not essential to the basic business of commercial banking …
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