Big Banks Were Trembling After Fed Testimony, Says MemoMark Melin
Big banks trembled this week as U.S. Federal Reserve Governor Dan Tarullo before Senate Banking earlier this week and announced a tough set of new rules for the largest banks, according to a memo from Federal Financial Analytics.
“They should have been even more afraid: his written testimony takes Fed policy one step farther by declaring that the big banks must be safer than a small one . . .
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