He Said / He Said – Geithner vs Hoenig Edition

Speaking today, Treasury Secretary Tim Geithner:

“The core of the American financial system is in a much stronger position than it was before the crisis.”

Also speaking today, KC Fed President, Thomas Hoenig:

“Today, I am convinced that the existence of too big to fail financial institutions poses the greatest risk to the U.S. economy. The incentives for risk-taking have not changed post-crisis and the regulatory factors that helped create the crisis remain in place. We must make the largest institutions more manageable, more competitive, and more accountable. We must break up the largest banks, and could do so by expanding the Volcker Rule and significantly narrowing the scope of institutions that are now more powerful and more of a threat to our capitalistic system than prior to the crisis.”

-KD

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