Thomas Hoenig was vice-chair of the FDIC from 2012-2018 and in the 20 years prior to that he was also president of the Kansas City Federal Reserve Bank. Thomas is currently a distinguished senior fellow at the Mercatus Center at George Mason University where he focuses on the long-term impact of the politicization of financial services, as well as the effects of government granted privileges and market performance. He joins the show today to talk about his career and some of the current issues in banking. David and Thomas also assess the effectiveness of quantitative easing, the advantages and disadvantages of opening up the Fed’s balance sheet to the public, and the debate between establishing an orderly liquidation authority vs a bankruptcy code.   Transcript for the episode: https://www.mercatus.org/bridge/podcasts/08262019/thomas-hoenig-federal-reserve-and-state-banking-us   Thomas’ Twitter: @tom_hoenig Thomas’ Mercatus profile: https://www.mercatus.org/people/thomas-hoenig   Related Links:   *"Enormous" Pressure in Next Recession for Wider QE Purchases, Former FOMC Voter Predicts* by Frank Fuhrig  https://www.mercatus.org/bridge/commentary/%E2%80%9Cenormous%E2%80%9D-pressure-next-recession-wider-qe-purchases-former-fomc-voter-predicts   David’s blog: macromarketmusings.blogspot.com David’s Twitter: @DavidBeckworth