'Political Retribution Is a Systemic Risk': Comments of the Week
August 30, 2013 10:17 AM
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.
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On why the government is cracking down on JPMorgan Chase:
"Add political retribution to the list of systemic risks!"
Related:
Bloomberg News
On why the government is cracking down on JPMorgan Chase:
"This isn't a conspiracy. The fact is that JPMorgan and dozens of other Wall Street megabanks have gamed the system, bet against their customers and, in fact, their own products in some cases. They've manipulated energy markets, LIBOR and the list goes on and on."
Related:
Bloomberg News
On why the government is cracking down on JPMorgan Chase:
"Whether this is vindictive or not, it will be understood as that in the industry, and among other financial firms
Is it good to be afraid of openly disagreeing with your government?"
Related:
Thinkstock
On Wells Fargo (WFC) Chief Executive John Stumpf's column about the indispensability of community banks:
"Thank you, John Stumpf. Someone is finally carrying the message of the community banks with a strong voice."Image:
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On Wells Fargo (WFC) Chief Executive John Stumpf's column about the indispensability of community banks:
"What a slap in the face to the thousands of community banks across the country
How a megabank CEO, and a board member of the Financial Services Roundtable thinks he can be a voice for community banking is beyond all comprehension."
Related:
Thinkstock
On Wells Fargo (WFC) Chief Executive John Stumpf's column about the indispensability of community banks:
"I admire top leaders of big banks who are not afraid to show up online and engaging in public dialogue on important issues."
Related:
Thinkstock
8. On Wells Fargo (WFC) Chief Executive John Stumpf's column about the indispensability of community banks:
"Wells Fargo standing up for community banks? Oh please."
Related:
Bloomberg News
On Wells Fargo (WFC) Chief Executive John Stumpf's column about the indispensability of community banks:
"How is this article anything but good for community banking? I don't doubt that Stumpf's statements are for the benefit of TBTF, but that doesn't mean they can't also be to the benefit of the community banking industry."
Related:
Thinkstock
On the Twitter war between banks and credit unions over the latter's federal tax exemption:
"Both sides' trade organizations spend too much time fighting with each other."
Related:
Thinkstock
On a call to put the Federal Housing Administration in charge of affordable housing policy:
"It is none of the governments business if I want to make a loan to you or not. The free market trumps all."
Related:
Thinkstock
On increased regulatory scrutiny of mortgages:
"When will banks ever learn? Commission salespeople are after one thing and one thing only: money, money, money. Banks need to grow up
or get out of the mortgage business. "
Related:
Thinkstock
On banks continued treatment of mobile as an afterthought:
"Twenty-somethings will not use brick-and-mortar like their grandparents did
It's not mobile that is changing banking. It's convenience."
Related:
Thinkstock
On the importance to banks of looking for profitable new ways to serve customers:
"'Efficient market theory'
leads us to believe that every truly good idea has already been offered. This is naive and harmful when taken to extreme. It is not true that all the innovations that produce mutually positive results for customers, financial institutions and the bankers
have already been introduced."
Related:
Thinkstock
On the automatic designation of banks with $50 billion or more in assets as 'systemically important':
"Increased regulations on the regional banks under $100 Billion in assets are another way of choking off the credit available to middle-market companies and small businesses, the true job creators."
Related:
Thinkstock
