Last Week in Words
"We jumped in with both feet into the GSEs with no plan for an exit strategy, and we're paying the price for it now. We have created an addiction to federal support for the housing market that is going to be very difficult to wean off of."
— Howard Glaser, a housing industry consultant, on the future of Fannie Mae and Freddie Mac
"The legislation I present today contains bipartisan ideas and is the result of a bipartisan effort. It does not as of yet enjoy bipartisan support."
— Senate Banking Committee Chairman Chris Dodd, on his regulatory reform bill
"The rules are important, but ultimately it is the referees who control the flow of the game."
— Julie Dickson, Canada's superintendent of financial institutions, in a speech that stressed assertive application of regulations
"You have to focus on the use … . There can't be an attitude of: 'If I build it, they will come.' "
— Michael Diamond, a senior Obopay official, on the failure of mobile P2P to catch on with the American public
"We barely survived."
— Daniel Kim, chief executive officer of Los Angeles-based Saehan Bank, after raising $60.5 million in capital and averting failure