Janet Yellen: We don't need to break up the banks

Janet Yellen tells CNN's Fareed Zakaria that banks are safer with more capital and there are better mechanisms for dissolving failed institutions. "We've made considerable progress" on the issue of Too Big To Fail, she says.

[dertythegrower]

I love Fareed Zakaria, smartest and most unbiased reporter on almost any channel. His work I have followed for almost 10 years, what a respectable guy, so under rated.

[MadTwatter]

*She is the Chair of the Board of Governors of the Federal Reserve* (an unimaginably large private bank). *She stands to lose a lot of money, political power and influence if large banks are forced to break up.*
Of course the advantage of breaking up the banks is to prevent them becoming too powerful or politically influential (like the circumstances surrounding the financial crash when they were "too big to fail".

[dertythegrower]

Pfft, you guys will see next week how much people think she is wrong. Protests are going to happen all over DC, watch.

[johnpearl]

I'll have what she's drinking

[hblegend]

haha, let's ask Sam Walton if Walmart should be broken up. Weak sauce.