From Housingwire.com:

In surprisingly blunt criticism of both the government and his colleagues, Federal Reserve Bank of Kansas City chief Thomas Hoenig argued that "insolvent firms must be allowed to fail regardless of their size, market position or the complexity of operations."

His Congressional testimony Tuesday morning to the Joint Economic Committee provided some of the strongest criticism of the government bailout yet by any major figure within the Federal Reserve.

"The United States currently faces economic turmoil related directly to a loss of confidence in our largest financial institutions because policymakers accepted the idea that some firms are just 'too big to fail.'" he said. "I do not."

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Government's latest screw job is labeled as "profit opportunity"