Comments of the Week
May 25, 2012 10:29 AM
(Image: ThinkStock)
On preemption by federal over state law:
"How bizarre is it to have so many regulators when much of the nation's business goes beyond arbitrary state boundaries." (Image: ThinkStock)
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On the Aldrich Plan of 1912 for a central U.S. financial regulator:
"Actually the Federal Reserve System was charged with taking a broad view of the system and snuffing out panics like the one in 1907. That has not worked out so well."
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On First PacTrust Bancorp CEOs' criticisms about small banks'
"Interesting comments from someone with no skin in the game prior to the recap. I wonder how the former shareholders feel about the recap and loss of ownership." (Image: Michael Chu)
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On the Dallas Fed president's past experience:
"I do not consider an investment banker a REAL banker. A person has not earned the title of Banker until he has fought the battle, oozed the blood, and suffered the sting of the regulatory fiends." (Image: ThinkStock)
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On the Dallas Fed president's call to break up big banks:
"The primary means of managing concentration risk is to put limits on concentration - on the size of the exposure. No amount of capital, or regulation of activity, can substitute for limits." (Image: Bloomberg News)
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On the lack of women on bank boards:
"If a bank instructs its search firm to include women in the mix of candidates, more women would be selected for the boards." (Image: ThinkStock)
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On settlements without admissions of guilt:
"A bank is not going to admit guilt when it believes it is not guilty and that would trump any willingness to work cooperatively on issues and seriously clog the whole system with adversarial disputes." (Image: ThinkStock)
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On settlements without admissions of guilt:
"It is destructive of trust in our institutions, both public and private, for regulators to publish lists of egregious acts, have firms pay enormous fines, but then say that the acts may have never happened." (Image: ThinkStock)
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On the JPMorgan loss:
"Anyone who thinks the industry is going to regulate itself is not so much dreaming as looking for permission to attempt something similar themselves." (Image: Bloomberg News)
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On the JPMorgan loss:
"Once one enters the derivatives expressway and "hedges" need to be hedged there is no nearby exit ramp to be found. Limitless leveraging in the name of hedging will be the downfall of us all." (Image: ThinkStock)
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On Amex offering geolocation-based app features:
"This is an example of marketing and technology running amok. Take a step back, AMEX, and smell the coffee (and don't ask [your] app to recommend a coffee shop; you can actually figure that out on your own)." (Image: ThinkStock)
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On plans by community banks to stop filing financial statements with the Securities and Exchange Commission due to the high cost:
"Are these savings going to be passed on to the banks' customers or just used to increase the profits to the shareholders?" (Image: ThinkStock)
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On bank sellers' unrealistic assumptions about M&A pricing:
"Bankers have been trained to measure value of multiples of book, which becomes the anchor. The focus must be shifted to expected cash flows. Then the potential sellers might understand the new reality." (Image: ThinkStock)
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On hurdles in Personal Financial Management tools:
"The PFM vendors want everyone looking at their app, while the online banking vendors want everyone using theirs. But either way, some features are only available in one or the other, creating a truly frustrating experience."(Image: ThinkStock)
On the M&A market:
"Maybe the scavengers are not accepting the fact that any bank still on its feet at this point has enough core value to crawl out over time." (Image: ThinkStock)
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On user-end fraud:
"As long as technology operates invisibly to the end user, and the end user relies on the tech, will not the end user ALWAYS be the weakest link?...Giving the end user visibility into what the technology they are wielding is actually going to do for them when they hit 'Enter' in a way that is protected is as critical as education to beating cyberthreats." (Image: ThinkStock)
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