Fed's Kashkari unveils plan to tackle 'too big to fail' banks and funds

The plan, which would double the amount of loss-absorbing equity capital for large U.S. banks and impose a new tax on hedge funds and other asset managers, is sure to face fierce opposition from Wall Street. Trump has been critical of Wall Street, and indicated he would support dismantling 2010 financial crisis legislation known as Dodd-Frank, but it is not clear whether he would support Kashkari's approach. Senate Banking Committee members Sherrod Brown, a Democrat, and David Vitter, a Republic