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Dallas Fed chief says "too-big-to-fail" bad for capitalism, economy

Usually, a regional Federal Reserve Bank annual report is routine reading. Some might even say they are boring.

That isn’t the case for the Federal Reserve Bank of Dallas’ annual report for 2011.

The title of the report alone clearly suggests why: “Choosing the Road to Prosperity: Why We Must End Too Big to Fail — Now.”

In his letter in the report, Dallas Fed President Richard W. Fisher writes, “The too-big-to-fail institutions that amplified and prolonged the recent financial crisis remain a hindrance to full economic recovery and to the very ideal of American capitalism. It is imperative that we end TBTF.”

And it’s been the subject of a few media reports, including this one on the New York Times’ website.