Ben Bernanke
"These measures are very much out of step with the global consensus on the appropriate role of central banks, and they would seriously impair the prospects for economic and financial stability in the United States."
— Federal Reserve chairman, in a Washington Post op-ed on proposals in Congress that would strip the Fed of supervisory powers and subject the Fed to GAO audits.•
Tom Brown
"It took a decade to agree on the first set of capital standards (and then another decade to agree on their revision).
Do you really think these countries can reach an agreement on capital, liquidity, risk, and compensation and consumer protection in 12 months?"
— Hedge fund investor and banking columnist on U.S. regulators' goal of developing worldwide capital standards by the end of 2010.•
Meredith Whitney
"The banks are still grossly overvalued. People are expecting something great to happen in 2010 and I think they are going to be severely disappointed."
— Industry analyst, who in November had no U.S. banks rated as "buy."•
Michael Carpenter
"If you look at the history of ResCap, it's been full of surprises and it's been the gift that keeps on giving."
— New GMAC CEO, on his focus to contain losses in the company's massively troubled Residential Capital mortgage unit.•
Ted Awerkamp
"We are getting a premium for what we sold, we are able to eliminate our debt, and now we get to roll up our sleeves and get back to fixing our problems. It is all about surviving this environment."
— Mercantile Bancorp CEO on the Quincy, Ill., holding company's decision to sell three of its subsidiary banks.•
Alan Blinder
"Would we welcome a critical GAO audit of monetary policy, which members of Congress could use to browbeat, perhaps even to intimidate, members of the Fed's rate-setting body?"
— Former Fed Vice Chairman in a Washington Post op-Ed on the proposal from Rep. Ron Paul (R-Tex.) to subject the Fed to GAO scrutiny.•
Daniel Alpert
"A few very large banks are making a pile of money, and the rest of the industry is hurting."
