Comments of the Week: Warren Grills Regulators, Reddit Accepts Bitcoin, Payday Loan Terms

On the GOP targeting Dodd-Frank in the budget battle: On the GOP targeting Dodd-Frank in the budget battle: "There is no doubt left in the aftermath of the 2008 financial crisis that politics will determine survivors."

Related Article: GOP Likely to Target Dodd-Frank in Budget Battle

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On Sen. Elizabeth Warren grilling regulators over a lack of banker prosecutions: On Sen. Elizabeth Warren grilling regulators over a lack of banker prosecutions: "It appears that an increasing number of people … are more interested in vengeance than rule of law."

Related Article: Warren Takes Center Stage in Grilling Regulators on Bank Prosecutions

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On Sen. Elizabeth Warren grilling regulators over a lack of banker prosecutions: On Sen. Elizabeth Warren grilling regulators over a lack of banker prosecutions: "The rule of law is the hallmark of a democracy. Why isn't the rule of law applicable to banksters?"

Related Article: Warren Takes Center Stage in Grilling Regulators on Bank Prosecutions

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On why the market values banks at less than book value: On why the market values banks at less than book value: "Warren and [Daniel] Tarullo agree it's because no one trusts them. Nice work, management. It only took a few years from the final dismantling of Glass-Steagall to wreck decades of work in building up public confidence."

Related Article: Warren Takes Center Stage in Grilling Regulators on Bank Prosecutions

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 On JPMorgan Chase shareholders' desire for CEO Jamie Dimon to relinquish his chairman title: On JPMorgan Chase shareholders' desire for CEO Jamie Dimon to relinquish his chairman title: "Separating the two functions would undoubtedly improve the bank's board access to information about what's really happening, rather than rely on just the information Mr. Dimon chooses to share."

Related Article: JPM Chase Shareholders Want Dimon to Relinquish Chairman's Title

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On Reddit's news site choosing to accept Bitcoin: On Reddit's news site choosing to accept Bitcoin: "The more people who get into this virtual currency, the more difficult it will be for traditional banks to continue ignoring it."

Related Article: Reddit News Site Now Accepts Bitcoin
On the need for financial privacy: On the need for financial privacy: "Without privacy, citizens are subject to the tyranny of government and that outcome results in no economy or marketplace."

Related Article: A Dystopian Vision of Banking from the 'Mad Men' Era

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On a vision of banking from the 1950s now described as 'dystopian': On a vision of banking from the 1950s now described as 'dystopian': "Orwell is dystopian... [This] vision of banking doesn't quite make that mark. On the other hand, the current model of banking has created a whole genre [of] distinctly dystopian non-fiction."

Related Article: A Dystopian Vision of Banking from the 'Mad Men' Era

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On a call to scrap payday loans: On a call to scrap payday loans: "If we are choosing to dispose of the payday lending industry over a few controversies then Wall Street should be disposed of as well."

Related Article: How Do You Reinvent the Payday Loan? Scrap It

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On simplifying the terms associated with a payday loan: On simplifying the terms associated with a payday loan: "If someone has a problem understanding that a payday loan is an advance on their next payday, they're probably having problems with credit generally."

Related Article: Forget Payday, It's Time to Reinvent All Lending Practices

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On who would benefit from money market fund reform: On who would benefit from money market fund reform: "Allowing the MMF industry to buy insurance only when their funds are underwater clearly harms taxpayers and is a lousy business model for this line of business at the FDIC."

Related Article: Money Fund 'Reform' Will Drive Cash to Banks and Help No One

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On the impact of loan vintages on a bank's risk profile: On the impact of loan vintages on a bank's risk profile: "The year class of the assets greatly affects recovery. Those banks that want to raise capital or make acquisitions, or just survive, need to understand the ramifications."

Related Article: What Banks Still Get Wrong About Capital

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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 (2)
I always check out this website before getting a loan - www.dollar-plan.com - My personal favourite are trusted payday because they can always get me a loan despite my poor credit history.
Posted by lucysan | Friday, February 22 2013 at 11:06AM ET
Bitcoin adoption is increasing and reaching new businesses every day. The more people who get into this virtual currency, the better! For those who haven't joined the revolution yet, check out http://thebitcoinmaster.blogspot.com and get started!
Posted by MarcusW | Friday, February 22 2013 at 5:34PM ET
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