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Former Fed Governor of the Kansas City Federal Reserve Bank for 20 years, Thomas Hoenig, has followed Fed policy over a long period. He has maintained throughout that government backing takes away an essential element in the safe and conservative practices of financial institutions by encouraging the taking of excessive risks. The only way to ensure their safety is for creditors to know they bear serious risks and for the systemically important financial insitutions to know that not following safe financial practices can put these institutions and management out of business.
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Washington Post 01.13.2012
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New York Times 04.28.2012
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Wall Street Journal 05.11.2012
The Bet that Blew Up for JPMorgan Chase
New York Times 05.11.2012
Red Flags said to Go Unheeded at Chase
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New York Times 07.25.2012
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George Will: Too big to maintain? - The Washington Post
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New York Times 10.15.2012
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