Too-Big-To-Fail Critic Tapped For Key FDIC Post

Law360, New York (October 21, 2011, 1:18 PM EDT) -- President Barack Obama late Thursday named a fierce critic of so-called too-big-to-fail banks to be second in command at the Federal Deposit Insurance Corp.

The White House announced that it would nominate Thomas Hoenig, the recently retired president of the Federal Reserve Bank of Kansas City, to be the vice chairman of the FDIC's board of directors.

Hoenig, who served as the president and CEO of the Kansas City Fed from 1991 until early October, has been stringent in his criticism of systemically important financial institutions,...
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