Federal Deposit Insurance Corp. nominee Thomas Hoenig told lawmakers that large financial firms must be accountable for their own capital and risk-taking and shouldn’t count on government help in the event of a collapse.
“I am not against big, I’m against too-big-to-fail,” Hoenig said yesterday at a Senate Banking Committee hearing on his nomination to serve as FDIC vice chairman. “These institutions should understand themselves and their risk capital. The burden is on them. I don’t support future bailouts.”
