Comments of the Week: Dec. 3 - 7

December 7, 2012 9:45 AM

On Republicans plotting to shake up the House Financial Services Committee:

"Old fashioned, bare knuckle politics triumphs over what is best for the industry and the country. Are differences of opinion and healthy discussion no longer acceptable? Must everyone goose-step?"

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On the announcement that Maxine Waters will be the top Democrat on the House Banking Panel:

"Ignorance is bliss."

(Image: Bloomberg News)

On Chicago Mayor Rahm Emanuel's decision to report financial activity to the CFPB:

"Guys like Emanuel are only interested in the optics of press conferences in which they announce they're for the 'little guy.' The fact that they will … undoubtedly intimidate law-abiding financial services providers, who will then offer fewer (and more expensive) options for the 'little guys' is beside the point, isn't it?"

(Image: Bloomberg News)

On a portrait of the Financial Services Roundtable's Tim Pawlenty as a patient, bipartisan leader:

"Just out of curiosity, do you have any idea of the way Pawlenty is perceived in the reality-based community?"

(Image: Bloomberg News)

On credit unions opposing a TAG extension:

"Tit for tat. Bankers routinely and out-of-hand oppose any credit union-backed measures, but express outrageous indignation when the credit union industry does the same."

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On credit unions opposing a TAG extension:

"Typical CU move. Throw what is best for communities and customers under the bus to get what you really want."

(Image: Thinkstock)

On Bank of the West's Stewart Larsen's decision to get out in front of mortgage servicing standards:

"Larsen is as usual, right on the money. He would make a great President of the MBA!"

On Fannie and Freddie halting foreclosures over the holidays:

"Then everybody comes home to a baggie with a lump of coal tacked to the door."

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On whether housing reform is likely to happen next year:

"If the subprime debacle, systemic financial crisis and Great Recession didn't provide enough political impetus for reform, nothing will."

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On the FDIC reporting bank quarterly income is at its highest in six years:

"While the numbers are looking much better … earnings are still relatively fragile. A rash of new and more restrictive regulations imposed on the industry could negatively impact those numbers."

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On Vernon Hill's contributions to the banking industry:

"I have always admired Vernon Hill for his out of the box thinking about how banking should be run. He was a magnificent success here at Commerce Bank and I know he will reach his goals at Metro Bank."

Related Article: Vernon Hill: Falling in Love Again

(Image: Bloomberg News)

On the possibility of Vernon Hill returning to the U.S. banking scene:

"Fascinating notion … Did you mean that as a reference to 'scene of the crime'?"

Related Article: Vernon Hill: Falling in Love Again

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On banks seeking CFOs with broad qualifications:

"How many real community banks … can afford a CFO even with a healthy capital structure and a 1% ROA? Getting a CFO is just one more cost of keeping the regulators at bay."

Related Article: Wanted: CFOs Who Are More Than CPAs

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On U.S. Bank launching Mitek's mobile photo bill payment feature:

"One bank out of over 7,000 trying to make it easier for consumers to perform financial transactions. Guess the process has to start somewhere."

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On the idea of issuing ratings, similar to those given to vehicles, for bank risk management programs:

"Government regulation in the form of speed limits and vehicle equipment requirements has not been the reason for improved safety in cars, nor will more regulation improve the soundness of the banking system."

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