Jeffrey Lacker, President of the Richmond Federal Reserve Bank, made the case for why large financial institutions should subject to bankruptcy as the ABI Luncheon Keynote Speaker. He started his address with the question "Why is a central banker interested in bankruptcy?" His answer was that during the financial crisis of 2007-2008, the government played a role by distorting incentives of market players with multiple discretionary interventions which destabilized expectations.
[more]
BLACK EYE FOR JP MORGANThe "Too Big To Fail" banks are at the center of the current U.S economic prob