back porch
PROF.
ELIZABETH
WARREN
“The market has
remained broken in large part
because our regulatory system is
fragmented,
cumbersome,
and complex.
While various
regulators—
including the Federal Reserve and
the chief banking supervisors—have long
had the legal authority to protect
consumers, they
have refused to
do so.”
The chairman of the
Congressional Oversight Panel, explaining
the need for a Consumer Financial Protection Agency.
JANE THOMPSON
“People know we have a pharmacy and a deli and optical
services. Financial services
are among our least recognized offerings.”
The president of Wal-Mart Financial
Services, discussing the company’s latest venture into bill payments.
MARY
FRANCES
MONROE
“The proposal is
on a short track.
There’s no discussion, just a series
of questions. But
the implication is
that assets would
be 100 percent
risk-weighted
and that is
worrisome.”
American Bankers
Association vice
president of regulatory affairs on the notice of proposed rule-making from bank
regulators on
changes in capital requirements due to
new balance-sheet
accounting rules.
RED GILLEN
“This is a strong
signal [to] other
health plan carriers
(e.g. Wellpoint)
that starting one’s
own bank is probably something best
avoided.”
Blog post of Celent senior
banking analyst, on the
Blue Cross Blue Shield
Association’s decision to
sell its struggling online
Blue Healthcare Bank.
SEN.
BYRON
DORGAN
“It won’t be very
long before we’ll
have derivatives,
we’ll have swaps,
we’ll have synthetic
swaps, you name it,
we’ll have all of them
and it’ll be a field day
for speculation.”
North Dakota Democrat,
on his fears of letting Wall
Street trade in carbon-off-set credits.
RICHARD X. BOVE
“Northern Trust's balance sheet is so strong
it actually shames its competitors.”
Rochdale Securities analyst.
DANIEL
ALPERT
“There are a few
banks that can
probably make
it through, even
with more
writedowns.
But the notion
that all these
banks will survive doesn't
work, especially
the regional
banks.”
Managing director
of Westwood Capital, on the lukewarm prospects
for bank stocks.
