The Week's Best Quotes: Tougher Exams, Bad Behavior, In Barney's Footsteps
February 19, 2013 11:25 AM
The most notable quotes from American Banker stories of the previous week. Readers are encouraged to add their own observations in the Comments fields at the bottom of each slide. (Image: Fotolia)
On why fines have failed to deter large banks from acting illegally:
"If they can break the law and drag in billions in profits, and then turn around and settle, paying out of those profits, they don't have much incentive to follow the law."Warren Takes Center Stage in Grilling Regulators on Bank Prosecutions (Image: Bloomberg News)
- Senator Elizabeth Warren of Massachusetts
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On the push for more thorough exams of big banks:
"If you're going to know the condition of an institution, I think you're going to have to examine it. Otherwise, you are kind of working on the honor system."FDIC's Hoenig Proposes 'Full-Scope' Big Bank Exams
- Federal Deposit Insurance Corp. Vice Chairman Thomas Hoenig
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On the House Democratic caucus on financial-reform under Barney Frank:
"When the caucus had to vote on issues that they know nothing about and that were complicated issues of finance, it was whatever Barney said."Waters Looks to Frank Model as New Dem Banking Leader
- Representative Maxine Waters, lead Democrat on the House Financial Services Committee
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On why whole-bank sellers mush lobby shareholders aggressively to approve deals:
"Not every board member or shareholder understands the realities of the market and psychologically still expects valuations that were reached six or seven years ago."PremierWest Tries to Sell Shareholders on AmWest Deal (Image: Fotolia)
- Lori Buerger, an attorney at Schiff Hardin
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In the importance of comparison-shopping for investment banking services:
"Some banks may just assume that the price is non-negotiable. They are often wrong."Bank M&A Fees Have Skyrocketed in the Past Decade (Image: Fotolia)
- David Baris, executive director of the American Association of Bank Directors
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On the view that top-flight M&A advice is worth the price:
"You do get what you pay for."Bank M&A Fees Have Skyrocketed in the Past Decade
- Ray Davis, chief executive of Umpqua Holdings
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On why MidSouth's M&A director can handle new duties without slowing deal-making:
"We got too many calls coming into the place, so we don't need to go look for deals."MidSouth M&A Chief Miller Adds Treasurer Title
- Rusty Cloutier, CEO of MidSouth Bancorp
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On why small banks often enter equipment finance via ventures with established leasing companies:
"It's like dating before getting married. You can try it out for a while and, if you like it, you can get more serious."Small Banks Look to Equipment Finance as a Revenue Driver (Image: Fotolia)
- John Deane, CEO of equipment-leasing consultant Alta Group
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On why loan portfolio bidders must e prepared to act fast:
"The challenge when you go look at portfolios is that everybody is looking at them, and people are getting pretty aggressive."CIT Loan Deal Shows Bidders Have to Be Ready to Roll — Fast
- Nelson Chai, president of CIT Group
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On the rise in distressed-loan sales:
"We've seen a high volume of packages come to market in late January, early February, and it's going to be multiples of the volume offered last year"Distressed-Loan Sales About to Soar: PennyMac's Kurland
- PennyMac chairman and chief executive Stanford Kurland
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On the uncertainty created by unfinished Dodd-Frank rule-making:
"They've got Dodd-Frank and we don't even know what it's going to say yet. There's no telling how many pages it will end up."Reg Fears Serve as Backdrop to ABA's Community Banking Conference
- Gregg Vandaveer, president and chief executive of Sooner State Bank in Tuttle, Okla.
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