Thomas M. Hoenig, Retiring as President of the Kansas FED RES Bank

Too bad. Mr. Hoeing has been a lone voice in the Federal Reserve looking to break up TBTF banks into smaller entities that fail with no ill effect on the taxpayer when they act imprudently. It's unfortunate that his views are out of touch, possibly since Kansas does not cut much weight in the Federal Reserve, because they are what could save our financial system.
What's wrong with our banking system? First and foremost Wall Street Banks represents too big a percentage of the U. S. economic activity for what are essentially a bunch of cake eaters. The economy needs to shed highly compensed financial engineers that produce nothing and consume greatly. Ben Bernanke has studied the Japanese lost decade (decades?)and still does not understand that by protecting Wall Street and their bonuses that he is doing the same as Japan supporting its walking dead.