Comments of the Week
Published June 8, 2012 10:31 AM
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Updated June 8, 2012 10:34 AM
1 Min Read
On fixing the banking industry's reputation:
"Propaganda campaigns will only increase the public's distrust. (Who says the oil industry repaired its image?)" (Image: Bloomberg News)
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On fixing the banking industry's reputation:
"Sorry, you can't put lipstick on a pig and make it attractive. For many reasons, the mega banks need to go." (Image: ThinkStock)
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On fixing the banking industry's reputation:
"People need to feel that Chase is their bank and not JPMorgan. Not only should they attempt to create brand names indicative of the different businesses, but they should physically separate the bank's businesses."
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On fixing the banking industry's reputation:
"Politicians have been the most vocal bank bashers, but their standing with the public is lower than that of the banks. The primary image problem relates to mortgages and there is plenty of blame to go around there." (Image: Bloomberg News)
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On fixing the banking industry's reputation:
"The banking industry's public image problems are rooted in years of neglect. Politicians are vocal in large part because their constituents are angry at banks, and not just because of the mortgage crisis." (Image: Michael Chu)
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On fixing the banking industry's reputation by publicizing small business lending:
"When the larger economy has stronger footings and Fortune 500 businesses begin to borrow once again, the focus on small businesses will evaporate." (Image: ThinkStock)
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On fixing the banking industry's reputation:
"We never opted for aggressive overdraft programs, we always underwrote our loans fully, and we service those loans. A human being has always answered the phone. This business is simple - take care of your customers." (Image: ThinkStock)
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On banks being too big to behave:
"It doesn't seem like all that long ago, banks could be relied upon to understand the difference between right and wrong. When banks lost their way, regulators could be relied upon to correct the situation. Sadly, federal financial regulators' ability to differentiate right and wrong has been compromised by their propensity to 'marry the natives.'" (Image: ThinkStock)
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On big banks using small banks for political support:
"On issues that are more pertinent to community banks, we need to exert more influence. However that is done much better with one common trade group representing all - otherwise we get what we deserve when we allow our opponents to divide and conquer." (Image: ThinkStock)
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On Comptroller Thomas Curry's testimony on the JPMorgan loss:
"Tom Curry has hardly been in his seat and, having come from an agency that knows the real impact of failure, I am confident that given time he may change the tired and worn culture of tolerance and forbearance at the OCC." (Image: Bloomberg News)
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On Comptroller Thomas Curry's testimony on the JPMorgan loss:
"Barking dogs in a political theater. Bet you only a handful can tell you how an index based CDS works." (Image: ThinkStock)
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On Comptroller Thomas Curry's testimony on the JPMorgan loss:
"Allowing Mr. Curry to slide out of accepting full responsibility for this latest example of 'selective supervisory blindness' and regulatory capture would turn a bad situation into a travesty. John Dugan's absence from the list of participants is conspicuous." (Image: Bloomberg News)
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On Guaranty's deal to buy a wealth management company just after it was freed from an enforcement order:
"See what happens when regulatory issues don't block the way? Growth. From growth will come jobs. Take note White House." (Image: Bloomberg News)
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On Treasury's criticism that the OCC should have caught the robo-signing problem sooner:
"Typical...cat out of bag...regulators unaware of missing cat...supervisor of regulator now finds cat...idiots (legislators) are creating and will create new bags. New bags will not hold the cat since owners of cat will create new cats for regulators, starting the cycle all over again." (Image: ThinkStock)
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On Treasury's criticism that the OCC should have caught the robo-signing problem sooner:
"No one had a problem when the big banks created MERS in order to speed up the antiquated paper and labor intensive methods of filing and recording mortgages in all the various localities throughout the country. They couldn't close loans fast enough to feed Wall Street and everyone involved was making profits. It's when you had to foreclose on them that suddenly it became "robo-signing". (Image: ThinkStock)
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On big banks' role in small-dollar lending:
"Wells Fargo and U.S. Bank are two of the largest payday lenders in the U.S. It is to their benefit to have private payday lenders banned from offering these loans while they go on lending at the same rates to a whole new set of borrowers. In the guise of protecting the consumers, Congress is again being manipulated by the banks to limit their competition." (Image: Bloomberg News)
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