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Fed’s Hoenig Thinks Angry Americans Need Smaller Banks, NYT Says

Dec. 2 (Bloomberg) -- Americans are angry at Wall Street because they sense banks have grown too big, too risky and too influential, and government doesn’t regulate them closely enough, Kansas City Federal Reserve Bank President Thomas M. Hoenig said, writing in the New York Times.

Too little has changed since the 2008 bank crash, and banks need to be reduced in size and scope to restore competitive balance and help heal the economy, he wrote.

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To contact the editor responsible for this story: David Altaner at daltaner@bloomberg.net

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