And Wow: Fed's Hoenig Says United States Has "Deeply Undermined Free-Market Capitalism"

Too bad Hoenig is stepping down as Kansas City Fed governor soon.


http://www.zerohedge.com/article/and-wow-feds-hoenig-says-united-states-has-deeply-undermined-free-market-capitalism

The Fed mutiny has arrived:

• HOENIG SAYS U.S. HAS `DEEPLY' UNDERMINED FREE-MARKET CAPITALISM
• HOENIG WARNS OF ESCALATING SERIES OF CRISES WITH RISING COSTS
• HOENIG: LARGE FINANCIAL FIRMS CAN EXPECT BAILOUTS IN FUTURE
• HOENIG SAYS BIG FINANCIAL FIRMS MUST NOT HOLD ECONOMY `HOSTAGE'
• HOENIG: LARGE FIRMS WERE `GAMING' CAPITAL STANDARDS PRE-CRISIS
• HOENIG:BIG FIRMS `HAVE SIGNIFICANT INCENTIVES' TO INCREASE RISK
• HOENIG: TOO-BIG-TO-FAIL FIRMS POSE `GREATEST RISK' TO ECONOMY
• HOENIG SAYS BIG FINANCIAL FIRMS ENJOY `HUGE' FUNDING ADVANTAGE

And the last one:

• FED'S HOENIG SAYS `HISTORY IS ON MY SIDE'

Step. away. from. the. bathtub. Tom.
In other news, someone at the top finally tells the truth about this shitshow of a banana republic.