Op-ed in today's Washington Post from Minneapolis Fed President Neel Kashkari
The Fed's Kashkari is openly criticizing legislation that will ease banking rules "there is little political will to actually reduce the future risk of another taxpayer bailout," he wrote.
Making banks hold larger reserves has been a project for Kashkari for years.
"The largest banks are still too big to fail, and if we were to face another crisis, the taxpayers would again be on the hook. The most efficient way to protect taxpayers would be to force the largest banks - those with assets greater than $250 billion - to double their current levels of capital. This could be paired with reducing the regulatory burden on community banks to create a more level playing field," he wrote.
