We hesitate to even point out that Kansas City Fed President Thomas Hoenig dropped by the Westin today to speak truth in Banktown just because we doubt any of the usual suspects will understand the significance of his remarks.
Hoenig actually compared banks to public utilities — whaddya think that means for Banktown? A town that is losing trading desk jobs, ie, big bonus jobs, at an alarming rate.
I swear, the Uptown crowd cannot buy a clue.
