Bank Oversight Quotes

Strong banks want strong regulation.

I don't think the government needs to be frightened of the banks in the slightest.

What the study I chaired actually said was we needed tougher regulation of cash and capital in banks, as credit was too easy. Events proved that right.

The reality is that what we did in 2010 with the Dodd-Frank wasn't enough.

Two-thirds of the directors at the New York Fed are hand-picked by the same bankers that the Fed is in charge of regulating.

JP Morgan always has higher capital liquidity, that is partially to make up for mistakes and problems and obviously it's a tough economy. We support an oversight committee, we supported some of the compensation, new compensation rules, though we already follow most of them. We support a lot of it.

We have put in place policies through supervision and regulation that has greatly enhanced the safety and soundness of the banking system.

If the large banks can do this without breaking the rules, then the rules should be revamped.

On the Glass-Steagall thing, like I said, if you could demonstrate to me that it was a mistake, I'd be glad to look at the evidence. But I can't blame [the Republicans]. This wasn't something they forced me into. I really believed that given the level of oversight of banks and their ability to have more patient capital, if you made it possible for [banks] to go into the investment banking business as continental European investment banks could always do, that it might give us a more stable source of long-term investment.

A contingent bailout policy - implicit or explicit - must be coupled with some regulation of what banks can and cannot do. For example, a ban on lending to uncreditworthy customers might well make sense.