Fed's Kashkari Floats Breaking Up Big Banks to Avert Meltdown
- Former Goldman exec urges going beyond Dodd-Frank law
- He compares big bank failure to nuclear reactor melting down
Kashkari: The Biggest Banks Are Still Too Big to Fail
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The former U.S. Treasury official who led the 2008 bailout program for the nation’s biggest banks says in his new role at the Federal Reserve that Congress and regulators should consider breaking them up to protect the financial system from another crisis.
Federal Reserve Bank of Minneapolis President Neel Kashkari, speaking Tuesday in Washington, said his regional Fed bank will study ways to toughen U.S. banking laws to prevent another financial crisis.