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Thomas Hoenig

The Biggest Banks Aren’t Ready to Shrink

"Jamie Dimon never quits. After Sandy Weill forced him out of Citigroup in 1999, Dimon staged a comeback that returned him to the pinnacle of banking as chief executive officer of JPMorgan Chase. After he was diagnosed with throat cancer last summer, he vowed to beat the disease with radiation and chemotherapy. Now he’s tussling with Janet Yellen’s Federal Reserve, which is ratcheting up the amount of capital the biggest banks must have on their balance sheets as a safety cushion for the next crash.