Thomas Hoenig Wants Biggest Banks Broken Up (C, JPM, BAC)

Thomas Hoenig, the president of the Kansas City Federal Reserve said that the biggest banks in the U.S. need to be broken up, as these banks still pose a huge economic risk to the country, and the risk is worse than it was before the financial crisis.

Hoenig went on to say that regulators should expand the Volcker Rule.

Banks that have been previously described as "too big to fail" are Citigroup (NYSE: C), Bank of America (NYSE: BAC) and J.P. Morgan (NYSE: JPM).