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Now, there is no more of a free market guy than me, but I’m 100% for government forcing the biggest banks to break up. Why? Because, currently these banks are not operating in a a free market in anyway. They have an implicit government guarantee that if they fail again, Obama, Tiny Tax-cheat Tim Geithner, and Big Ben will bail them out yet again with taxpayer money.
You see the current market is not “free” in anyway, it’s crony capitalism at best, and it needs to stop now. Kansas City Fed President, Thomas Hoenig (the only fed official consistently voting against every Fed policy),? is essentially saying the same thing.