by Annalyn Censky, CNN Money:
Another Federal Reserve official is speaking out against Too Big to Fail policies.
Esther George, president of the Kansas City Fed, believes regulators including the Federal Reserve did not fully take advantage of rules that could have helped them curb risky banking practices leading up to the financial crisis.
“During the recent crisis, we had a number of powers that might have been used on Too Big to Fail institutions, but were not employed to any notable extent,” George said at the Levy Economics Institute’s Hyman P. Minsky Conference in New York, Wednesday.
“The most critical issue in addressing Too Big to Fail concerns is having policymakers with the resolve to follow through,” she added.