'Not hearts and minds': Comments of the week
February 10, 2017 8:30 AM
American Banker readers share their views on the most pressing banking topics of the week. Comments are excerpted from reader response sections of AmericanBanker.com articles and our social media platforms.
Disagreeing with the notion that banks’ support for Trump policies will hurt them politically in the long run:
“The ‘long game’ for the electorate is the economy, not hearts and minds. If Trump's team and agenda create opportunity, jobs and middle class prosperity, Senator Warren's and Bernie Sanders' battle cries for redistributive ‘justice’ will not resonate.”
Related article:Banks are losing the political long game
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On William Cooper, a retail banking innovator, dying at 73:
“Bill Cooper was a legendary leader in the deregulation era of banking. He left us much too early and will be missed by the many thousands of people whose lives he touched.”
Related article:William Cooper, retail banking innovator, dies at 73
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Another reader reacts to Cooper’s death:
“A wise man told me years ago you can always make $$$ in banking with basic blocking & tackling, as long as you EXECUTE WELL.”
Related article:William Cooper, retail banking innovator, dies at 73
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On seeking a middle ground in developing regulatory policy:
“The choice is not no regulation versus status quo regulation. This false choice is a strawman that is trotted out too often. The choice is refining regulation to meet a rule's purpose while removing what there is about it that unnecessarily inhibits economic growth.”
Related article:Don't rush to deregulate banks, Philly Fed chief urges
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On a lobbying group claiming its members want to build innovative technologies, not banks (via <a href="https://twitter.com/JVWVU1/status/829091893917184001" target="_blank">Twitter</a>):
On slashing financial sector regulations to promote economic growth:
“Most of Dodd/Frank and the rules that came from it have little to do with the causes of the financial crisis. And, the rules now in place will not prevent the next financial crisis. Instead, they add costs and restrict banks' ability to make a profit which weakens the system. So, while prudential regulators keep their boot on the necks of banks, the FinTechs are moving forward unrestrained with the help of the government. CRA is outdated and should be repealed.”
Related article:Don’t rush to deregulate banks, Philly Fed chief says
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