BankThink

Columbia University economist Joseph Stiglitz weighed in on the regulatory reform discussions in Congress this week. American Banker followed up with him for some additional comments. Here are his thoughts on the priorities of regulatory restructuring:

Tuesday´s House Financial Services Committee hearing was meant to be forward-looking but representatives from both sides had a hard time overcoming the past.

Members of the House Financial Services Committee may have bickered bitterly over which party is to blame for the financial crisis during today´s hearing on regulatory restructuring, but they demonstrated a propensity for bipartisanship in their reading material.

Are the fates of the Securities and Exchange Commission and the Commodities Futures Trading Commission inexorably bound? They may be; some old regulatory hands are suggesting the two agencies be merged.

In your Oct. 8 online Credit Union Journal you attempt to raise concerns about corporate credit unions issuance of commercial paper. Since you mention Southeast Corporate as issuing commercial paper, we would like to respond with some facts that were not apparent in your story.

There is a retirement crisis in America. Two-thirds of the nation's 79 million baby boomers have less than $100,000 in retirement savings. Only 22% contribute to a 401(k), according to the Employee Benefit Research Institute, and 40% have next to nothing saved for this "third age," according to the National Retirement Planning Coalition.

You know, now that I come to think of it, the bankers are right: the playing field really isn't level.

Amid all the other economic news, at least one credit union has its rivals green with envy.

As a CEO, your article: "Losses Mount At NCUSIF" (CU Journal, Sept. 22) is disturbing and disconcerting. Quarterly, the NCUA receives 5300 data. The lights are on but is anyone home at the NCUA?

I could not agree more with Bill Morrow's story regarding defending against Identity Theft. One of our CUSO companies here at MaPS Credit Union in Salem, Oregon, is in the business of protecting credit unions from making bad hiring decisions.