Minneapolis Fed Pres: Big Banks Have 'Unlimited' Insurance and It's Hurting Small Banks, Repeating 2008, and Creating 'Systemic Risk'

On Tuesday's broadcast of "CNN This Morning," Minneapolis Fed President Neel Kashkari stated that we are repeating what we did in 2008 where we made big banks bigger "to preserve near-term financial stability, knowing that it made the problem worse in the long-term" and there is a "systemic risk" where "customers know that essentially the biggest banks in America have unlimited deposit insurance" and are pulling their money out of mid-sized banks.