Comments of the Week: Oct. 22 - 26
October 26, 2012 11:06 AM
On whether Washington is trying to eliminate community banks:
"One could certainly find the evidence to be persuasive."Related Article: Why Washington Wants Community Banks Out of the Way (Images: Shutterstock and Thinkstock)
On whether Washington is trying to eliminate community banking:
"Federal regulators believe the community bank business model is 'broken' and are actively seeking ways to mend it … They would appreciate constructive comments, but not conspiracy theories."Related Article: Why Washington Wants Community Banks Out of the Way (Image: Shutterstock )
On whether Washington is trying to eliminate community banking:
"We welcome our megabank overlords. After all, we paid for them."Related Article: Why Washington Wants Community Banks Out of the Way (Image: Thinkstock)
On Jamie Dimon leading big-bank efforts to get Congress to compromise on the fiscal cliff:
"Dimon can't manage his own business: money-laundering, cheating on RMBSs, illegal foreclosures, MF Global, Peregrine, etc."Related Article: Dimon Drums Up Support for Fiscal Cliff Compromise (Image: Bloomberg News)
On giving Citigroup credit for its recent board transformation:
"The only reason they replaced their board is because for the third time in the last 30 years, they again failed."Related Article: Banks Should Reject More Board Candidates Pictured: Citi board chairman Michael E. O'Neill(Image: Bloomberg News)
On Basel III putting community banks out of business:
"Community Banks! Join the club! Small businesses and entrepreneurs, your principal clients, have also been put out of business by Basel II and III."Related Article: Community Banks: Basel III Will Put Us Out of Business (Image: Thinkstock)
On Walmart and Amex's Bluebird card:
"What's wrong with a little honest competition in the financial services industry?"Related Article: Walmart Prepaid Card Heats Up Debate Over FDIC Backing (Image: Thinkstock)
On Walmart and Amex's Bluebird card:
"What is wrong with disclosing what you are selling? FDIC-or-Not-FDIC insured seems like a pretty simple and meaningful disclosure."Related Article: Walmart Prepaid Card Heats Up Debate Over FDIC Backing (Image: Thinkstock)
On Walmart and Amex's Bluebird card:
"Salute to Amex, and may the forces of goodness, free-competition, and fairness attend your every move."Related Article: When Is Bank Regulation Really Bank Protectionism? Pictured: Dan Shulman, Group President of Enterprise Growth at American Express
On when bank regulation becomes bank protectionism:
"If regulation takes away choices from the consumer, how is that good for the consumer?. … Do we really think the government makes more intelligent choices for people than people can make for themselves?"Related Article: When Is Bank Regulation Really Bank Protectionism? (Image: Thinkstock)
On the potential for a responsible return to subprime lending:
"Even with money plentiful, subprime lending was an idea that politicians would take too far. Those who dream of homeownership should start seriously saving for it."Related Article: Harbingers of Crisis Now Calling for Subprime Revival (Image: Thinkstock)
On the potential for a responsible return to subprime lending:
"The subprime crisis was caused by an originate-to-distribute model that encouraged fraud, not by lending to low-income borrowers per se."Related Article: Harbingers of Crisis Now Calling for Subprime Revival (Image: Thinkstock)
On the potential for a responsible return to subprime lending:
"The former subprime borrowers are still out there, today the definition of a subprime borrower is the person who can't get a loan."Related Article: Harbingers of Crisis Now Calling for Subprime Revival (Image: Shutterstock )
On speeding up the short sale process:
"Realtors recommending that borrowers stop making payments is never a good idea."Related Article: No Wonder Short Sales Are So Rare (Image: Thinkstock)
On customers embracing EMV technology:
"To paraphrase Steve Jobs: 'They'll get used to it.'"Related Article: Speakers at ATM, Debit Conference Question EMV Adoption (Image: Thinkstock)
