Dallas Fed President: stop 'coddling' and break up 'too big to fail'

Hallelujah.

Fisher suggested the only way of ensuring that such financial giants do not pose recurrent problems is by making them smaller.

"This means finding ways not to live with 'em and getting on with developing the least disruptive way to have them divest those parts of the 'franchise,' such as proprietary trading, that place the deposit and lending function at risk and otherwise present conflicts of interest," Fisher said in prepared remarks to the Cato Institute, a libertarian think tank.