"It seems like there are further markdowns to be taken. … Every management team wants you to believe that they've taken a meat cleaver [to the value of their bad loans]."

Tom Mitchell, a Miller Tabak analyst, noting how steep markdowns of CRE loans taken by the prospective buyers of Wilmington Trust, Marshall & Ilsley and Whitney rekindled credit-quality worries.


"The issue is that these documents are not theirs. … The director has no personal right to hold the records, period."

Michael Krimminger, FDIC acting general counsel, saying that directors and officers at troubled banks have no right to make copies of their institution's internal documents, which have been fed to outside defense teams to prepare for potential litigation.


"While the basis-point system isn't so great … it may be like democracy: the worst system aside from everything else."

Jeff Naimon of BuckleySandler, wondering whether an overhaul of the 25-basis-point fee that Fannie Mae and Freddie Mac pay mortgage servicers would create as many problems as it solved.


"We still believe in not being completely free all the time to everyone."

Raj Seshadri, Citigroup's head of small-business banking, on whether its free checking promotion for small businesses signals a departure from its approach to requiring customers to maintain balance requirements for fee waivers.


"I get beat up every day from people who have a 72% purchase and we don't do it."

Greg Garrabrants, Bank of Internet's head, distancing it from a "No Job, No Income, No Problem!" sales pitch sent to mortgage brokers by an employee who was then fired. The e-mail was actually aimed at elderly people with enough wealth to handle a large mortgage loan.

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