Comments of the Week: Oct. 8 - 12
Published October 12, 2012 8:56 AM
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Updated October 12, 2012 10:40 AM
1 Min Read
(Image: Thinkstock)
On Federal Reserve Board Gov. Daniel Tarullo's call for a size cap on big banks:
"The government should never be involved in telling a company how large they can become. That's not their place … Let the marketplace decide."Related Article: Fed's Tarullo Calls for Size Cap on Large Banks (Image: Bloomberg News)
On Tarullo's call for a size cap on big banks:
"It would have been far better had his 'Eureka moment' occurred prior to his drafting thousands of pages of undecipherable rules for the banks."Related Article: Fed's Tarullo Calls for Size Cap on Large Banks (Image: Thinkstock)
On the case for reinstating Glass-Steagall:
"Anyone want to insure my trip to Vegas? I think not."Related Article: Former Wamu Execs Eye Return to Mortgage Lending (Image: Thinkstock)
On FDIC board member Thomas Hoenig's plan to break up big banks:
"There is simply no other way to effectively deal with TBTF, assuming we truly want to end it."Related Article: Fed's Tarullo Calls for Size Cap on Large Banks (Image: Bloomberg News)
On whether 'Back to Basics' is the right answer to Basel III:
"Any measure used for control purposes loses its effectiveness over time. Essentially the regulated learn how to game the system."Related Article: Why 'Back to Basics' Is the Right Answer to Basel (Image: Thinkstock)
On Tarp banks being at risk under Basel III:
"We are all at risk under Basel III."Related Article: Tarp Banks at Risk Under Basel III, Panelists Warn (Image: Thinkstock)
On Sen. Mike Crapo becoming banking panel's top Republican:
"Crapo is an avatar for the so-called community banks, which have serious challenges of their own under new capital rules."Related Article: Will Crapo Take Over as Banking Panel's Top Republican? (Image: Bloomberg News)
On the need for professional standards for bankers:
"Can you name a 'duty of care' required by a bank person in a branch? Answer is 'Caveat Emptor.'"Related Article: Let's Establish Professional Standards for Bankers (Image: Thinkstock)
On the need for professional standards for bankers:
"Most of the banks failed not because of professional incompetence, but because of non-adherence to established ethical standards that should govern the conduct of business transactions."Related Article: Let's Establish Professional Standards for Bankers (Image: Thinkstock)
On giving customers what they want:
"I salute the bank loan officers with the ability to say 'no' when it is needed … It is no different than a doctor reminding us to stop obesity or smoking."Related Article: Deliver What Customers Want, Not What You Think They Need (Image: Thinkstock)
On giving customers what they want:
"Wal-Mart and other non-banks listen and consumers are looking outside the traditional bank for that reason."Related Article: Deliver What Customers Want, Not What You Think They Need (Image: Thinkstock)
On Walmart and Amex's Bluebird card:
"By any other name, this functionally is a checking account, and should be regulated as such."Related Article: Walmart's Bluebird Card Makes It a Tougher Competitor to Banks (Image: Bloomberg News)
On the FHFA's vision for a new mortgage securitization platform:
"We all will need to get real about the price of mortgage capital."Related Article: FHFA's Vision for MBS Platform: Ambitious, Laudable, Dicey Pictured: FHFA Acting Director Edward J. DeMarco(Image: Bloomberg News)
On qualified mortgages coming up during the first presidential debate:
"When mortgage underwriting requirements become a topic in presidential debates, that's strong evidence that the market is highly politicized. This isn't progress!"Related Article: Mortgage Lenders Tighten Requirements Ahead of QM Rule (Image: Bloomberg News)
On the CFPB's enforcement actions:
"If you want to play banker, you have to play by the rules."Related Article: Why the CFPB's AmEx Fine Should Scare Bankers (Image: Thinkstock)
