Comments of the Week: Jan. 21 - 25

On banks facing regulatory action for improper debt collection practices: On banks facing regulatory action for improper debt collection practices: "It´s about time these bloodsuckers get truly regulated. Their refusal to accept common sense repayments after they buy the debt for pennies on the dollar and their robo-calls to every phone number someone has is beyond harassment."

Related Article: Banks Face Official Backlash Against Card Debt Collection Practices

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On some banks being 'Too Big to Jail': On some banks being 'Too Big to Jail': "Even worse than 'Too Big to Jail' is 'Too Big to Prosecute.'"

Related Article: Are Some Banks 'Too Big To Jail'?

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On Frontline's investigation into why Wall Street wasn't prosecuted for the financial crisis: On Frontline's investigation into why Wall Street wasn't prosecuted for the financial crisis: "Unfortunately, irresponsibility is not a crime in the business world. You must prove … intent."

Related Article: 'Frontline' Learns Firsthand Why Wall Street Is 'Untouchable'

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On why Wall Street has not faced criminal prosecution for the financial crisis: On why Wall Street has not faced criminal prosecution for the financial crisis: "The decision makers at the DOJ are cautious to the point of cowardice."

Related Article: 'Frontline' Learns Firsthand Why Wall Street Is 'Untouchable'

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On whether criminal prosecutors could have come down on Wall Street for the financial crisis: On whether criminal prosecutors could have come down on Wall Street for the financial crisis: "The mortgages sold were rated and sold as 'AAA-Grade A' meat and … the loans turned out to be low grade dog food."

Related Article: 'Frontline' Learns Firsthand Why Wall Street Is 'Untouchable'

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On a call to end 'Too Big to Fail' by making it the shareholders' problem: On a call to end 'Too Big to Fail' by making it the shareholders' problem: "Banks would never be the shareholders' problem. They have been and will be depositors' problems."

Related Article: End 'Too Big to Fail' by Making It Shareholders' Problem

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On how to end 'Too Big to Fail': On how to end 'Too Big to Fail': "If the goal is to replace hyper-regulation with market discipline, then the method is simple: End deposit insurance."

Related Article: End 'Too Big to Fail' by Making It Shareholders' Problem

(Image: Bloomberg News)
On the notion that market discipline can replace regulation: On the notion that market discipline can replace regulation: "Clap if you still believe in 'market discipline' - don't let Tinker Bell die." (Via Twitter)

Related Article: End 'Too Big to Fail' by Making It Shareholders' Problem

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On dismissals of 'market discipline' as a fairytale: On dismissals of 'market discipline' as a fairytale: "Tinker Bell needs help! Market discipline can only exist when banks provide uniform disclosures of on and off balance sheet risks." (Via Twitter)

Related Article: End 'Too Big to Fail' by Making It Shareholders' Problem

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On the Consumer Financial Protection Bureau's QRM rule: On the Consumer Financial Protection Bureau's QRM rule: "A loan with only 5% down payment is only ultra-safe in political-speak. Securities issued under such regs may be riskier than those the QRM rule was supposed to prevent."

Related Article: CFPB Mortgage Rule Signals Relief for Securitizers

(Image: Bloomberg News)
On the Innovator's Dilemma: On the Innovator's Dilemma: "It will be the banker who designs and implements services around ethically managing money to produce trusted commitments … who will prosper long-term."

Related Article:

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On the Innovator's Dilemma at big banks: On the Innovator's Dilemma at big banks: "Helping customers achieve their financial goals is antithetical to the megabank model. They make money by taking the customer's money in fees and sleazy practices … What they need is a business model not dependent on misdirection and outright fraud."

Related Article: Banks Face the Innovator's Dilemma

(Image: Fotolia)
On the OCC's defense of its $8.5 billion foreclosure settlement with 10 banks: On the OCC's defense of its $8.5 billion foreclosure settlement with 10 banks: "The OCC's idea of a hard bargain is nothing more than the cat scratching litter over its waste."

Related Article: OCC Defends Foreclosure Deal, Says It Drove 'Hard Bargain'

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American Banker readers share their views on the most pressing banking topics of the week. As excerpted from the Comments sections of AmericanBanker.com articles.

Comments (1)
Sorry, but it's not in the Banker's DNA to even consider "ethically managing money". It's just how much can we make on the deal and can we get our hands on another one.
Posted by exregulator | Friday, January 25 2013 at 3:17PM ET
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