Federal Reserve Bank of Dallas President Richard Fisher said regulators should break up so-called too-big-to-fail financial institutions to curtail the risk they pose to financial stability.
“I believe that too-big-to-fail banks are too-dangerous-to-permit,” Fisher said in the text of remarks given in New York today.

“Downsizing the behemoths over time into institutions that can be prudently managed and regulated across borders is the appropriate policy response. Then, creative destruction can work its wonders in the financial sector, just as it does elsewhere in our economy.”

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