Tom Hoenig, formerly president of the Kansas City Fed, has long been a strong voice for financial sector reform along sensible lines.  Within the official sector, he has spoken loudest and clearest on the most important defining issue: Too Big To Fail is simply too big.  And last week he took a major step towards a more prominent role, when he was announced as the administration’s nominee to become vice-chair at the Federal Deposit Insurance Corporation (FDIC).

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