Leading the Past WeekContrasted with the story of the economic recovery, and how the biggest banks were announcing profitable earnings reports, the top story of the past week was that the rhetoric against the so-called Too Big to Fail banks was once again being ratcheted up. This time by Dallas Fed President Richard Fisher, no bleeding heart liberal himself, who put forward a scathing report on how and why it was necessary to break up the biggest banks. Despite this broadside against the nation’s largest financial institutions, the remain able to successfully influence Washington remains, as evident by the fact that the FSOC’s announcement of an extension to the comment period for its proposal to regulate money market funds.On Capitol Hill, things were quiet, as the Capitol prepared for President Obama’s Inauguration and the House had a short week before the Republican conference left for its retreat. The biggest news emanating from that retreat was that the House would be voting on a bill to temporarily raise the debt ceiling for three months when it returns this week. While initial reports suggested that the measure would be tied to preventing members from getting paid if they didn’t produce a budget,… Read full this story
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