Former BB&T chief questions Fed official’s actions

The latest Bloomberg Businessweek tells us “no one has done more to strengthen government’s grip on the financial system” than Daniel Tarullo, an Obama administration appointee to the Federal Reserve Board.

Count John Allison among those who are not entirely thrilled with Tarullo’s work.

Some bankers say Tarullo and the Fed have gone too far. “If you take a major segment of your economy, and all it is trying to do is preserve itself, then that slows growth, it slows employment creation, and it probably, over time, drives big chunks of that business to someplace else,” says John Allison, a BB&T director and former CEO of the banking group.

Mitch Kokai / Senior Political Analyst

Mitch Kokai is senior political analyst for the John Locke Foundation. He joined JLF in December 2005 as director of communications. That followed more than four years as chie...

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