Comments of the Week: Oct. 15 - 19
October 19, 2012 10:55 AM
On HSBC executive Irene Dorner's call to fix banking's reputation:
"I am tired of being asked to apologize for being committed to helping customers and communities … HSBC lecturing the banking industry on restoring trust? Are you kidding me?"Related Article: Banks Must Do 'A Lot More' to Repair Image: HSBC's Dorner (Image: Dan Nelken)
On HSBC executive Irene Dorner's call to fix banking's reputation:
"The irrefutable fact is that the sector is dominated by avid joyful lawbreakers. Fix that, and the image problem fixes itself."Related Article: Banks Must Do 'A Lot More' to Repair Image: HSBC's Dorner (Image: Thinkstock)
On Vikram Pandit's resignation as Citi CEO:
"Shareholders can have some confidence that the bank can now begin to turn itself around … Pandit's five months experience working for a bank was hardly a qualification to take over as CEO."Related Article: As Pandit Departs, Citi Turns to Star of Gridiron and Asset Sales (Image: Bloomberg News)
On Citi's claim it had returned to basics prior to Pandit's departure:
"Are you kidding me? That's what they said the last three times they were bailed out."Related Article: Bair Still Bearish on Citigroup (Image: Bloomberg News)
On Citi's strategy following Michael Corbat's appointment to CEO:
"Good for Citi. Returning to the basics of banking is a good idea."Related Article: As Pandit Departs, Citi Turns to Star of Gridiron and Asset Sales
On Sheila Bair's notion that bank examiners be required to make a lifetime commitment:
"To [Bair's] credit, she has come up with a new way to destroy the industry."Related Article: Should Bank Examiners Have to Make a Lifetime Commitment? (Image: Michael Chu)
On whether bank examiners should be required to make a lifetime commitment:
"You would not ask an intern at a hospital to make a commitment never to go into private practice."Related Article: Should Bank Examiners Have to Make a Lifetime Commitment? (Image: Thinkstock)
On whether bank examiners should be required to make a lifetime commitment:
"Certainly a provision for 'number of years' prior to taking [lobbyist] jobs could be implemented."Related Article: Should Bank Examiners Have to Make a Lifetime Commitment? (Image: Thinkstock)
On the call for legal safe harbor for small banks from new mortgage regulations:
"Amen!"Related Article: Small Banks Need Legal Safe Harbor from New Mortgage Regulations (Image: Thinkstock)
On applying Basel III to community banks:
"Raising capital to meet an arbitrary standard as part of conditions that will most likely never occur to protect a system that could never be impacted by being wrong is insane."Related Article: One Economic Hiccup, And These Small Banks Are in Trouble (Image: Thinkstock)
On Sallie Krawcheck suggesting short-term shareholder thinking ruins banks:
"Business is not a weekly/quarterly game. Not if truly healthy companies are the goal."Related Article: Short-Term Shareholder Thinking Ruins Banks, Krawcheck Says (Image: Bloomberg News)
On consumer demand for 'lighter, not fewer' bank branches:
"People use to know the name of their doctor, lawyer, accountant and banker. Nowadays you are your own banker."Related Article: Customers Want 'Lighter, Not Fewer' Branches (Image: Thinkstock)
On the idea that residential mortgage-backed securities are being adequately vetted:
"And Santa will bring me a winning Irish Sweepstakes ticket."Related Article: Mortgage Investors Still in the Dark on Risk Details (Image: Thinkstock)
On a bipartisan group assessing Dodd-Frank:
"Even if we only were able to get a more rational timetable for implementation, that would be important progress."Related Article: Bipartisan Group to Assess Dodd-Frank (Image: Thinkstock)
On industry groups finding Fincen's rulemaking on shell companies will increase costs:
"Rulemaking requires at least some effort to identify costs of compliance."Related Article: New Fincen Director Makes Shell Corps Her Top Priority Pictured: Fincen Director Jennifer Shasky Calvery(Image: Ed Violette)
