Fed’s Kashkari Says “We Won’t See Next Crisis Coming”, Compares Banks To Risky Nuclear Reactors
by Tyler Durden
ZeroHedge.com
02/16/2016
“Unfortunately, I am far more skeptical that these tools will be useful to policymakers in the second scenario of a stressed economic environment. Given the massive externalities on Main Street of large bank failures in terms of lost jobs, lost income and lost wealth, no rational policymaker would risk restructuring large firms and forcing losses on creditors and counterparties using the new tools in a risky environment, let alone in a crisis environment like we experienced in 2008. They will be forced to bail out failing institutions—as we were.”
The Rest…HERE
