Kashkari rejects Dimon’s claims on too big to fail
Minneapolis Fed chief rebuts assertion by JP Morgan CEO
The president of the Federal Reserve Bank of Minneapolis has rejected claims made by JP Morgan’s Jamie Dimon that US banks are no longer “too big to fail”.
In a letter on April 4, Dimon, JP Morgan’s chief executive and chairman, asserts that “essentially, too big to fail has been solved – taxpayers will not pay if a bank fails”. Banks carried plenty of bail-in-able debt that would prevent taxpayers having to foot the bill in a crisis, Dimon says.
Minneapolis Fed’s Neel Kashkari shot back in a
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