Comments of the Week: Nov. 26 - 30

On Barney Frank receiving American Banker's 2012 Lifetime Achievement award: On Barney Frank receiving American Banker's 2012 Lifetime Achievement award: "Next we'll see the ABA endorsing al Qaeda for the Nobel Peace Prize."

Related Article: Lifetime Achievement: Barney Frank

(Image: Bloomberg News)
On Barney Frank receiving American Banker's 2012 Lifetime Achievement award: On Barney Frank receiving American Banker's 2012 Lifetime Achievement award: "This is a well written, balanced and accurate tribute, Rob [Blackwell, American Banker's Washington Bureau Chief]. Barney Frank deserves such an assessment as well as our thanks for a life in public service."

Related Article: Lifetime Achievement: Barney Frank

(Image: Bloomberg News)
On Reps. Barney Frank and Mike Capuano's proposed bill to combine the SEC and the CFTC: On Reps. Barney Frank and Mike Capuano's proposed bill to combine the SEC and the CFTC: "What kind of a bass-ackward system do we have when the only reason for not consolidating two redundant federal agencies is that their oversight by Congress is bifurcated between two oversight committees?"

Related Article: Frank, Capuano Unveil Bill to Merge SEC, CFTC
On the CFPB collaborating with startups to promote financial innovation: On the CFPB collaborating with startups to promote financial innovation: "If Americans and particularly innovators do not get that the CFPB is all about centralized control, then they desire to lose their freedom."

Related Article: CFPB Should Create Safe Haven for Innovators

(Image: Bloomberg News)
On how the CFPB can promote financial innovation: On how the CFPB can promote financial innovation: "Get the h--- out of the way. Bureaucracy is the antithesis of entrepreneurialism."

Related Article: CFPB Should Create Safe Haven for Innovators

(Image: Thinkstock)
On claims that the CFPB stifles innovation: On claims that the CFPB stifles innovation: "Stop whining about the CFPB in general. You know … the industry deserves to be even more highly regulated than it is and the CFPB is not bad or to blame."

Related Article: CFPB Should Create Safe Haven for Innovators

(Image: Thinkstock)
On the need for financial innovation: On the need for financial innovation: "We've already gone to hell in a hand basket and it's because of the methods by which we bank, borrow and manage our personal finances. We need to find new ways of doing old things. Innovative methods … have already proven themselves to outperform conventional thought and practice."

Related Article: CFPB Should Create Safe Haven for Innovators

(Image: Thinkstock)
On hiring a 'champion' to oversee digital partnerships at traditional financial institutions: On hiring a 'champion' to oversee digital partnerships at traditional financial institutions: "The champion needs to be the CEO or a direct report if you want something to happen."

Related Article: Digital Partnerships Should be a Priority for Banks in 2013

(Image: Thinkstock)
On banks establishing digital partnerships with startups in order to stay relevant: On banks establishing digital partnerships with startups in order to stay relevant: "Unfortunately the majority of banks (being of the 'community flavor') are still stuck in the 80s when it comes to the fundamentals of technology and the advice in this article is beyond their abilities."

Related Article: Digital Partnerships Should be a Priority for Banks in 2013

(Image: Thinkstock)
On allowing credit unions to lend to applicants deemed bad risks by commercial bankers: On allowing credit unions to lend to applicants deemed bad risks by commercial bankers: "We tried this with the S&L industry in the 1980s - it didn't work out well."

Related Article: Banks Clash with Credit Unions Over Lending Bill

(Image: Thinkstock)
On using a few credit union failures to argue the business lending cap shouldn't be lifted: On using a few credit union failures to argue the business lending cap shouldn't be lifted: "Would the same rationale apply to banks, which experienced many more commercial lending-induced failures?"

Related Article: Banks Clash with Credit Unions Over Lending Bill

(Image: Thinkstock)
On subsidies distorting the housing market: On subsidies distorting the housing market: "Subsidizing is not synonymous with fraud … The pendulum always swings too far and fear prevents proper thinking."

Related Article: Stop Subsidizing (and Distorting) the Housing Market

(Image: Thinkstock)
On subsidizing the housing market: On subsidizing the housing market: "To paraphrase Immanuel Kant, man is imperfect so his institutions will be as well. But public intervention always increases the opportunities for corruption and fraud, so real or imagined misdeeds of bankers during the subprime debacle aren't a reason to continue subsidizing housing."

Related Article: Stop Subsidizing (and Distorting) the Housing Market
On a call for bankers to get over their infatuation with risk models: On a call for bankers to get over their infatuation with risk models: "It is a fact that complex models are always misleading particularly when one model throws a result right opposite to the other one."

Related Article: Banking Needs to Get Over Infatuation with Risk Models

(Image: Thinkstock)
On judging a mortgage's value by its price: On judging a mortgage's value by its price: "Most people are not able to shop for a mortgage the same way as one shops for an airline ticket … The cheapest mortgage might not be the best option for a consumer, as the ARM loan discussion demonstrates."

Related Article: Consumers Rely on Lenders' Reputations When Shopping for Mortgages

(Image: Thinkstock)
On how community banks can fight back against Basel III: On how community banks can fight back against Basel III: "Instead of arguing the details and capital levels, the community banks should ask the regulatory bodies for an explanation of their logic and the systemic risks presented by community banks under any deteriorated economic scenario."

Related Article: How Community Banks Can Fight Back Against Basel III

(Image: Thinkstock)

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 (4)
American Banker, as fine a publication as it is, is not affiliated in any way with the American Bankers Association, even while they share some of the same words in their names. So however wise and worthy American Banker's endorsements may be, they may or may not be reflective of ABA's views.
Posted by aberw | Friday, November 30 2012 at 1:54PM ET
Please stop making me look at pictures of Barney Frank. Please.....
Posted by presjeff | Monday, December 03 2012 at 10:22AM ET
Great choice! It is good to see that American Banker can be non-partisan.
Posted by areidy | Friday, December 07 2012 at 5:30PM ET
Barney "Fife" Frank is a very large part of the reason this country is in the financial condition it presently enjoys. His refusal to even allow control of Fannie and Freddie to even come up for a vote through his committee, promoted the mortgage debacle. With large political contributions by both of these GSA's to Barney and company they ensured their existence to the bitter end. Weeks before the Federal take over of these two mortgage giants Barney was still extolling the solid footing they were on.
Posted by ibat26231501 | Friday, December 21 2012 at 4:08PM ET
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