Hawkish Thomas Hoenig of the Kansas City Fed details his dissent: He says megabanks "should be...

|About: Bank of America Corporation (BAC)|By:, SA News Editor

Hawkish Thomas Hoenig of the Kansas City Fed details his dissent: He says megabanks "should be broken up" - as the big four (BAC, JPM, C, WFC) now hold assets equal to 52% of the nation's annual output. And he criticizes interest-rate policy: "When you guarantee a zero rate, you guarantee a spread to Wall Street or to others, and you encourage speculation."