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'It makes my head explode': Comments of the week

ByRachel Witkowski
November 7, 2019 9:00 PM

Readers react to Sen. Warren's call for banks to fund her Medicare plan, a proposal requiring big-bank CEOs to testify before Congress, federal regulators lacking Trump appointees on their board and more.

Sen. Elizabeth Warren, D-Mass. and 2020 presidential candidate, speaks during the Democratic National Committee Summer Meeting in San Francisco on Aug. 23, 2019.
On Democratic presidential candidate Sen. Elizabeth Warren wanting to tax banks to fund her "Medicare for all plan":

"There is so much wrong with this that it makes my head explode."

Related: Warren won't let banks escape health care debate
U.S. Capitol
The U.S. Capitol stands past the Washington Monument in Washington, D.C., U.S., on Tuesday, Jan. 8, 2019. President Donald Trump is eager to invoke a national emergency to bypass an unwilling Congress and build a border wall, according to two people familiar with his thinking, a dramatic move that would test the limits of presidential power. Photographer: Andrew Harrer/Bloomberg
Andrew Harrer/Bloomberg
On a House Democrat's proposal that would require the CEOs of the U.S. "global systemically important" banks to testify before Congress annually:

"Inquisitions by the squad too ignorant to understand commerce without trying to be woke."

Related: House bill would mandate congressional visits by big-bank CEOs
Powell and Trump
U.S. President Donald Trump, right, shakes hands with Jerome Powell, governor of the U.S. Federal Reserve and Trump's nominee as chairman of the Federal Reserve, during a nomination announcement in the Rose Garden of the White House in Washington, D.C., U.S., on Thursday, Nov. 2, 2017. If approved by the Senate, the 64-year-old former Carlyle Group LP managing director and ex-Treasury undersecretary would succeed Fed Chair Janet Yellen. Photographer: Olivier Douliery/Bloomberg
Olivier Douliery/Bloomberg
On two federal banking agencies still lacking names from the White House to fill vacancies on their board:

"Bring me some guys that took a loyalty oath. Then arrange for interviews after my golf game and before wrestling comes on the television."

Related: Pressure grows on administration to fill Fed, FDIC seats
taxi-fotolia.jpg
On Capital One Financial receiving subpoenas from federal and state prosecutors related to loans to taxi drivers:

"Doesn't this sound like another loan product that was based on increasing values and not creditworthiness?"

Related:Capital One subpoenaed by N.Y., feds over taxi loans
An FDIC seal woven into carpet.
Andrew Harrer/Bloomberg
On the Federal Deposit Insurance Corp. fining HomeStreet Bank nearly $1.4 million for cutting online marketing deals with real estate brokers, and renting its office space to brokers and homebuilders:

"Too bad the FDIC doesn’t have jurisdiction over mortgage bankers who do this stuff."

Related: HomeStreet fined for RESPA violations
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arrow - stock.adobe.com
On a call for the Consumer Financial Protection Bureau to offer clear guidance on how financial companies can safely innovate:

"Your proposed way forward will help deliver on the promise of the innovation policy tools . . . There is a large market for this once it more comprehensive."

Related: CFPB can do better by fintechs than a 'policy tool'
house of money
House of 100 US Dollars banknotes (new sample)
© Andrey Nekrasov/Andriy Nekrasov - stock.adobe.co
On community banks cutting jobs to address margin pressure and an expected slowing economy:

"So, tough times ahead for workers as banks shore up profits . . . Imagine the reputational boost to a bank forward-thinking enough to boast good efficiency ratios and doing right by its staff."

Related: Smaller banks take a turn swinging the ax
Rachel Witkowski
Tech reporter, Financial Planning
Tax SIFIs Medicare Enforcement Lending Fintech Fintech regulations Economy Elizabeth Warren Federal Reserve FDIC CFPB News & Analysis
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