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Friday, May 11, 2012

Major banker calls for breakup of largest banks in US

One of the nation's top bankers today called for the breakup of the largest banks in the United States, in response to yesterday's disclosure by the CEO of JPMorgan Chase that his bank had lost $2 billion dollars since April and may lose another billion in the next month.

The announcement sent shockwaves throughout the economy and the markets, driving stock prices downward.

Richard Fisher, president of the Dallas Federal Reserve Bank, stated that the nation's top five banks need to be split up into smaller entities due to their inadequate risk management.

Click here to continue reading at Anthony G. Martin's National Conservative Examiner.

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