Slideshow

'Can it be that these people take themselves seriously?': Comments of the week

January 31, 2019 10:00 PM

Readers weigh in on calls that regulators consider the financial risks from climate change, respond to Trump administration plans to overhaul the housing finance system, consider GOP strategy on the House Financial Services Committee and more.

Representative Patrick "Pat" McHenry, a Republican from North Carolina, chairs a House Subcommittee on TARP, Financial Services and Bailouts of Public and Private Programs hearing in Washington, D.C., U.S., on Tuesday, Nov. 15, 2011. The hearing was entitled "How Roadblocks in Public Markets Prevent Job Creation on Main Street." Photographer: Andrew Harrer/Bloomberg *** Local Caption *** Pat McHenry

Andrew Harrer/Bloomberg

On the House GOP's strategy now that Democrats have control of the Financial Services Committee:

"Let's be honest. The only prayer we have that this committee doesn't become the most embarrassing, scalp-hunting, demagoguing group in DC (and that's saying a lot) is if the GOP pushes back. I'm not holding my breath."

Related: Will GOP shield big banks from Democrats' attacks, or pile on?

Senator Brian Schatz, a Democrat from Hawaii, speaks during an interview in Washington, D.C., U.S., on Thursday, May 7, 2015. Schatz, who opposes fast-track legislation, said he will back Senate Minority Leader Harry Reid's effort to force the Senate to consider bills to extend federal highway funding and modify U.S. surveillance laws before turning to trade legislation. Photographer: Andrew Harrer/Bloomberg *** Local Caption *** Brian Schatz

Andrew Harrer/Bloomberg

On Senate Democrats asking regulators to start including climate-related risks in their supervision of the financial system:

"Total silliness from clueless politicians. Note to Regulators: PLEASE don't pretend that climate change is a risk that can be measured. The Government shutdown was more productive than anything you might do here."

Related: Senate Democrats urge bank regulators to assess climate risks

Senator Sherrod Brown, a Democrat from Ohio, questions Steven Mnuchin, Treasury secretary nominee for U.S. President-elect Donald Trump, during a Senate Finance Committee confirmation hearing in Washington, D.C., U.S., on Thursday, Jan. 19, 2017. Mnuchin defended his record as an owner of a mortgage lender that was accused of unfair loan and foreclosure practices during the financial crisis. Photographer: Andrew Harrer/Bloomberg

Andrew Harrer/Bloomberg

Another reader weighs in on lawmakers asking the banking agencies to being assessing climate-related risks as part of their oversight:

"Can it be that these people take themselves seriously?"

Related: Senate Democrats urge bank regulators to assess climate risks

James Dimon, chief executive officer of JPMorgan Chase & Co., pauses during a Bloomberg Television interview at the World Economic Forum (WEF) in Davos, Switzerland, on Wednesday, Jan. 18, 2017. World leaders, influential executives, bankers and policy makers attend the 47th annual meeting of the World Economic Forum in Davos from Jan. 17 - 20. Photographer: Simon Dawson/Bloomberg

Simon Dawson/Bloomberg

On JPMorgan's Jamie Dimon saying he supports tax hikes for the rich as long as the revenue is used wisely:

"Well...pay more Jamie. Have at it. Have CNN go live to the press conference where you write that huge check to the government and encourage your rich friends to do the same. But... I'm guessing that's not going to happen. No, the rich will continue to pay millions to tax attorneys to protect their billions... and increased taxes will, as always, fall on folks working their tails off to earn a living. It's depressing to read that a leader in the banking industry is saying these things."

Related: Dimon on tax-hike proposals: The rich 'can afford to pay more'

Representative-elect Alexandria Ocasio-Cortez, a Democrat from New York, smiles after a group photo with the 116th Congress outside the U.S Capitol in Washington, D.C., U.S., on Wednesday, Nov. 14, 2018. Congress returns to work this week with Democrats and Republicans promising to work together to avert a partial government shutdown and pass a handful of other bills, though President Donald Trump's demand to fund his border wall could blow up their plans. Photographer: Andrew Harrer/Bloomberg

Andrew Harrer/Bloomberg

Another reader weighs in on Dimon's comments regarding a tax increase for the wealthy:

"The problem is that AOC and Warren won't stop at the rich. AOC needs more money than her tax plan to soak the rich will bring in so at some point, she'll need to go for the not so rich. Can't believe Jamie is falling for this smoke and mirrors. Better off donating to worthy causes than letting the government dictate where the funds should go."

Related: Dimon on tax-hike proposals: The rich 'can afford to pay more'

Comptroller of the Currency Joseph Otting

Joseph Otting, Comptroller of the Currency nominee for U.S. President Donald Trump, speaks during a Senate Banking Committee nomination hearing in Washington, D.C., U.S., on Thursday, July 27, 2017. Otting, who has served as OneWest Banks chief executive officer, would bring a lengthy resume working for banks that are overseen by the agency he's been tapped to run. Photographer: Andrew Harrer/Bloomberg

Andrew Harrer/Bloomberg

On a look at how acting Federal Housing Finance Agency Director Joseph Otting could overhaul the housing finance system without help from Congress:

"Sorry shareholders but receivership with repealed charters is the cleanest legal option. Once they are essentially liquidated it would spawn legislative action for a replacement and disbursement of assets. My vote would be to leverage FHLBs. The new "son of GSE" could then be given a new charter, an explicit guarantee, and a stronger regulatory framework such as the Large Bank Supervision program."

Related: What is Otting's plan for GSE reform? It's complicated