Federal Reserve Bank of Kansas City President Thomas Hoenig said the existence of companies whose failure would threaten the financial system is an obstacle to economic growth and impedes competition.
The Federal Reserve Bank of Kansas City said it has begun a search to replace bank president Thomas Hoenig , the U.S. central bank’s longest-serving policy maker, who is retiring Oct. 1.
"Wholesale funding secured by assets on the bank's balance sheet creates a vicious cycle during a financial downturn as creditors grab the collateral and sell in panic, bringing prices down even further."
- Thomas Hoenig on Dec 18, 2014
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