Comments of the Week: Nov. 12 - 16
November 16, 2012 9:25 AM
On whether it's time for bankers to make peace with Dodd-Frank:
"As bankers and, more importantly, as Americans, we don't just lie down and give up our hard-earned franchises to ridiculous legislation that paints all banks with the same brush."Related Article: It's Time for Bankers to Make Peace with Dodd-Frank (Image: Thinkstock)
On whether it's time for bankers to make peace with Dodd-Frank:
"Conform to avoid shutdown, but keep the pressure on your senators to dramatically modify the bill."Related Article: It's Time for Bankers to Make Peace with Dodd-Frank (Image: Bloomberg News)
On whether it's time for bankers to make peace with Dodd-Frank:
"I would love to have Ms. Rehm spend a few weeks in the trenches of a bank trying to comply with all these regulations that we should 'get on board' with as she suggests."Related Article: It's Time for Bankers to Make Peace with Dodd-Frank (Image: Thinkstock)
On whether it's time for bankers to make peace with Dodd-Frank:
"New nominee for Treasury Secretary: Barbara A. Rehm."Related Article: It's Time for Bankers to Make Peace with Dodd-Frank (Image: Bloomberg News)
On dealing with Dodd-Frank:
"Let's get on the other side of this and start representing our cause. We need relief from Dodd Frank, not [a] prophecy of doom."Related Article: Thanks to Dodd-Frank, Community Banks Are Too Small to Survive (Image: Thinkstock)
On whether the country needs more or fewer banks:
"The only people we can trust with that decision are customers, who come in all sizes and needs. We harm those very customers when we let bank regulation make those decisions."Related Article: Thanks to Dodd-Frank, Community Banks Are Too Small to Survive (Image: Thinkstock)
On Dodd-Frank's credit ratings rule squeezing small banks:
"It's almost like they didn't really think this thing through, huh?"Related Article: Small Banks to Get Squeezed by OCC Credit Ratings Rule (Image: Thinkstock)
On another Dodd-Frank provision:
"The Financial Stability Oversight Council housed in Treasury with the Fed chairman as vice chair is, as one central banker famously said, 'like putting the monkeys in charge of the bananas.'"Related Article: It's Time for Bankers to Make Peace with Dodd-Frank (Image: Thinkstock)
On Fincen's proposed rules requiring travelers to declare prepaid cards at borders:
"Credit cards, debit cards and prepaid cards all create traceable transactions and do not need Orwellian controls."Related Article: Fincen Plan to Make Travelers Declare Prepaid Cards Is Unfair (Image: Thinkstock)
On money market fund reform plans without floating net asset values:
"Market discipline without price discovery is a violin without a bow."Related Article: Regulators Set Mandate for Reform of Money-Market Mutual Funds (Image: Thinkstock)
On regulators' mandate for money market fund reform:
"Washington has not just a right, but a moral duty to worry about the deep downside risk that asset managers and investors pass to taxpayers through the safety net."Related Article: Regulators Set Mandate for Reform of Money-Market Mutual Funds (Image: Thinkstock)
On the election results forcing community banks to sell:
"Anyone who thinks that this election did anything to help the economy is not being serious. Too bad banks don't manufacture solar panels or windmills. All they do is help small businesses and our economy grow. And America is apparently just not into that anymore."Related Article: Election Results May Force Some Banks to Sell (Image: Thinkstock)
On the industry lamenting Elizabeth Warren's Senate win:
"Warren has a real opportunity to show bankers that she is not the multi-headed monster she was made out to be."Related Article: Industry Laments Elizabeth Warren's Win (Image: Bloomberg News)
On Strike Debt's plan to hold a telethon to raise money to buy and cancel consumer debt:
"What a noble idea. Don't forget to issue a 1099 to the ultimate beneficiaries."Related Article: Telethon Will Raise Funds to Buy, Then Cancel, Consumer Debt (Image: Thinkstock)
On the possibility of the entire Bitcoin network being searched following the Romney blackmail caper:
"Next you'll be telling us that because some people decide to download movies, the entire internet is to be arrested for having used TCP/IP."Related Article: The Plot Thickens in the Bizarre Bitcoin Blackmail Caper
On a merchant lobbyist's call for credit card swipe fee regulation:
"Consumers will no sooner benefit from debit or credit regulation than will the card associations."Related Article: Credit Card Swipe Fee Reform Is Overdue (Image: Thinkstock)
