If this is Chris Whalen’s Draft, I Can’t Wait for His Final

Institutional Risk Analyst co-founder Chris Whalen writes in the new edition of his newsletter:

Until we break the Alliance of Convenience between the Congress, the Fed and the large, TBTF (too big to fail) banks and force our public officials to embrace core American values regarding transparency, insolvency and accountability, we will not in my view find a way out of the crisis.

It’s such a smart piece that I couldn’t decide what to quote, so I just took the most actionable sentence from his last paragraph. Read the entire article. Contemplate it. Pay your $1K to hear from the friendly faces here. And if you have ideas to break the alliance, comment away.