Last Week in Words

Published May 07, 2010, 7:48 p.m. EDT

Updated May 07, 2010, 6:48 p.m. EDT

1 Min Read

MONDAY
"They shouldn't break their arms patting themselves on the back too hard."

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— William Schwartz, senior vice president at the DBRS ratings agency, advising bankers to be cautious about highlighting falling loan-to-deposit ratios. TUESDAY
"Big banks were largely responsible for creating the risks that brought down the economy, both directly and also indirectly by funding nonbanks that were able to avoid federal rules and engage in particularly reckless behavior."

— Elizabeth Warren, Congressional Oversight Panel chair, in arguing that financial reform could help small banks compete with large ones. WEDNESDAY
"It's who can shout the loudest and be the most populist. I would like to think that mature, thoughtful positions would prevail in financial regulation, but I don't know that it will."

— GOP Sen. Judd Gregg, pressing his case that a legislative provision to force divestment of swaps desks would be counterproductive. THURSDAY
"Once Congress changes the base to an asset test, what is to stop them from thinking up other kinds of incentives that meet whatever social agenda they might have?"

— James Chessen, ABA chief economist, protesting a move to base deposit insurance rates on assets instead of domestic deposits. FRIDAY
" The treasurer is trying to make some firm determinations of the extent to which the banks marketing our bonds on one hand are engaging on the other hand with trades that could harm taxpayers."

— Tom Dresslar, spokesman for California Treasurer Bill Lockyer, on the state's inquiry into credit-default swap activity at Bank of America Merrill Lynch, Citigroup and JPMorgan Chase, among other investment banks.