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Fed's Kashkari, in first speech, suggests radical Wall St. overhaul
Reuters: The U.S. Federal Reserve's newest policymaker and a former point man for the government's bailout of the financial industry on Tuesday called on lawmakers to take radical action to rein in banks and protect taxpayers.
In his first speech as head of the Minneapolis Fed, Neel Kashkari, a Goldman Sachs executive before he worked at the U.S. Treasury, urged Congress to consider "bold, transformational" rules including the breaking up of the nation's largest banks to avoid bailouts.
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