Big banks are government-backed: Fed's Hoenig

Hoenig has historically been the lone Fed governor who isn't afraid to speak the truth on the fictional solvency of banks.  Too bad he is retiring in October.  Like Volcker <click here>, the former hawkish Fed Chairman who recently stepped down as Obama's economic adviser (something I predicted when he was appointed), Hoenig's retirement augurs in a fresh round of "stimulus" spending which will ultimately further drown the US in debt and cause the collapse of the global financial system.  Welcome to Amerika. 

http://ca.news.yahoo.com/big-banks-government-backed-feds-hoenig-20110412-112137-434.html