A Quote by Spencer Bachus

My view is that Washington and the regulators are there to serve the banks.

Spencer Bachus

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Banks Regulators Serve View Washington

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Spencer Bachus
American - Politician
Born: December 28, 1947

Regulators are a backstop: they don't own banks. The governance at the top of our leading banks has been shown to be lamentably weak. No one at the top of Barclays will take responsibility for systemic abuse.

Vince Cable

If you believe one of the biggest problems confronting the country is overregulation by this administration, the single most effective way to begin to rein in the aggressive regulators, who in my view have done great damage to this economy, is in the bills that fund the regulators.

Mitch McConnell

In a world of businessmen and financial intermediaries who aggressively seek profit, innovators will always outpace regulators; the authorities cannot prevent changes in the structure of portfolios from occurring. What they can do is keep the asset-equity ratio of banks within bounds by setting equity-absorption ratios for various types of assets. If the authorities constrain banks and are aware of the activities of fringe banks and other financial institutions, they are in a better position to attenuate the disruptive expansionary tendencies of our economy.

Hyman Minsky

You read constantly that banks are lobbying regulators and elected officials as if this is inappropriate. We don't look at it that way.

Jamie Dimon

Under Bill Clinton's HUD Secretary Andrew Cuomo, Community Reinvestment Act regulators gave banks higher ratings for home loans made in 'credit-deprived' areas. Banks were effectively rewarded for throwing out sound underwriting standards and writing loans to those who were at high risk of defaulting.

Lawrence Kudlow

The financial collapse of 2008 got its start with predatory mortgages, that weren’t sold by community banks and credit unions, they were sold by fly by night mortgage brokers who had almost zero federal oversight and then the big banks looked over, saw the profit potential and they wanted it bad. So they jumped in and sold millions of these terrible mortgages while the bank regulators just looked the other way.

Elizabeth Warren

Banks should decide on dividend increases and share buybacks after receiving the results of stress tests, when they know how much capital regulators wish them to hold.

James P. Gorman

This is the joint responsibility of everyone who was involved in the introduction of the euro without understanding the consequences. When the euro was introduced, the regulators allowed banks to buy unlimited amounts of government bonds without setting aside any equity capital. And the European Central Bank discounted all government bonds on equal terms. So commercial banks found it advantageous to accumulate the bonds of the weaker countries to earn a few extra basis points.

George Soros

Wall Street banks have the right to express their views to lawmakers and regulators through lobbying, but the law is clear: If they want to influence lawmakers, they must disclose their lobbying expenditures.

Elizabeth Warren

Here's a little newsflash for those reporters and commentators: I'm not going to Washington to seek their good opinion. I'm going to Washington to serve this great country.

Sarah Palin

My view is, Democrat, Republican, it doesn't matter, my view is I'm in Washington to try to work with people.

Mark Pryor

When giant companies wanted more tax loopholes, Washington got it done. When huge energy companies wanted to tear up our environment, Washington got it done. When enormous Wall Street banks wanted new regulatory loopholes, Washington got it done. No gridlock there!

Elizabeth Warren

In the US, banking and finance are regulated on the federal and state level, there are multiple federal bank regulators, and there are separate securities and commodities regulators.

Perianne Boring

From my point of view, the American financial system - including banks and investment banks - is far safer because of capital and liquidity requirements. Despite all the turbulence so far this year, I don't think anyone's questioning our system. And that, obviously, is a good thing.

Jamie Dimon

The banks lobbied Washington so they could write the rules that got us into this crisis. They then lobbied Washington to get the money to bail them out. And then they are lobbying Washington to write the rules so they can get us into the next crisis. It's perfect circularity.

Elizabeth Warren

The government isn't going to say, "We're going to regulate banks, but we'll leave these other companies alone." I think the regulators want to make sure that they have some form of regulation on anything systemic. We like our hand. But, you know, honestly, who owns the future?

Jamie Dimon

A Quote by Spencer Bachus

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