Slideshow Gordon Gekko Lives, George Bailey Too: Comments of the Week

Published
  • September 27 2013, 8:00am EDT
14 Images Total

American Banker readers share their views on the most pressing banking topics of the week. As excerpted from the Comments sections of AmericanBanker.com articles.

(Image: Thinkstock)


On Comptroller Thomas Curry's warning that 'satisfactory' won't cut it at big banks:

"'Satisfactory is not satisfactory' is nonsensical."

Related Article: 'Satisfactory' Won't Cut It at Big Banks, OCC's Curry Warns

(Image: Rick Reinhard)

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On making generalizations about 'bankers':

"It is important to distinguish between Gordon Gekko and George Bailey. They are both still in existence. The term 'banker' should not be used generically."

Related Article: Next Reform Target: The Banker's Brain


On the Federal Housing Administration's expected bailout:

"Thank you, Dave Stevens!"

Related Article: FHA Expected to Tap Treasury for Bailout

Pictured: David Stevens, former FHA director, now head of the Mortgage Bankers Association

(Image: Michael Chu)


On Rep. Jeb Hensarling's assertion that regulation caused the financial crisis:

"Regulations only serve to sanction activities which have already occurred."

Related Article: Regulation - Not Lack Thereof - Led U.S. into Financial Crisis

(Image: Bloomberg News)

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On Rep. Hensarling's assertion that the Community Reinvestment Act led to the subprime mortgage crisis:

"Jimmy Carter signed CRA into law in 1977. That same year he also signed a mine safety act. The mine safety act had as much to do with the subprime mortgage crisis as CRA did."

Related Article: Regulation - Not Lack Thereof - Led U.S. into Financial Crisis

(Image: Bloomberg News)


On Rep. Hensarling's claim that the CRA led to the subprime mortgage crisis:

"Typical of perfect storms, there were several forces that came together in 2008 to trigger the crisis."

Related Article: Regulation - Not Lack Thereof - Led U.S. into Financial Crisis

(Image: Thinkstock)


On Rep. Hensarling's claim that the CRA led to the subprime mortgage crisis:

"I've been trying to find exactly where in the Community Reinvestment Act … companies like Countrywide were required to make stated-income pick-a-payment loans on homes with wildly-inflated appraisals. Guess I'll have to keep on looking."

Related Article: Regulation - Not Lack Thereof - Led U.S. into Financial Crisis

(Image: Thinkstock)

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On Sen. Bob Corker's statement that the private sector must share risk in the mortgage market:

"How about if the government gets out of private business altogether and lets the market work? Private business has been, is and always will be brighter and more nimble than government."

Related Article: Private Sector Must Share Risk in Mortgage Market: Sen. Corker

(Image: Bloomberg News)


On the Government Accountability Office's forthcoming 'too big to fail' study:

"Familiarity with other GAO efforts would lead one to suppose that they will opt for objectivity."

Related Article: GAO Must Ensure Accurate Accounting in TBTF Study

(Image: Thinkstock)


On HSBC's Irene Dorner asserting that regulation delays are hurting the economy:

"Bankers can't have it both ways: vigorously opposing any kind of regulation while refusing to offer meaningful solutions, and complaining at the same time about delays. It's about time they showed some positive leadership."

Related Article: Reg Delays Stunting Economic Growth: HSBC's Dorner

(Image: Rick Reinhard)

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On the claim that increasing bank capital requirements will hurt the economy:

"It is poorly capitalized banks that lead to economic ills."

Related Article: Tougher Leverage Ratio Will Force $200B Capital Raise

(Image: Thinkstock)


On the Federal Deposit Insurance Corp.'s heightened capital requirements:

"This will kill thousands of more jobs in the banking Industry. Enough is enough already. Get real!"

Related Article: FDIC's Gruenberg: Leverage Ratio Must Keep Pace with Other Capital Targets

(Image: Rick Reinhard)


On whether the Basel capital standards will be revised again:

"It would be a mistake to assume that we have arrived at the point where we have found the perfect regulatory capital program."

Related Article: Are We on Our Way to Basel IV?

(Image: Thinkstock)