this shady deal was clearly intended to help Santander evade the regulations, in this case, capital standards, of the Eu...
It is bad enough when banks can capture the agencies that regulate them or the Congress, which is all too often the case...
It is also felt most acutely on Main Street. That is why it is so important that examiners and supervisors and regulator...
Are they too big to manage? Are they too big to regulate? All important questions.
The message that is sent from the President to the Board, to the supervisors, is that financial regulation is secondary.
I want to thank my friend, Senator Manchin, for our work together on trying to focus on the Fed.
You backed up when Goldman was unhappy.
We need bank regulators who work to protect the American people, not the profits of giant banks.
The problems originate from the culture of the firms and this culture is largely shaped by the firms' leadership.
I am sorry. Surely, you are not going to take the position, Mr. Dudley, that if most of the time most of what the Fed do...
You want the big financial institutions to hold up a mirror and look at their behavior, because, you say, otherwise, we ...
Illegality is not the test. The test is what threatens the safety and soundness.
I think you should have been investigating a whole lot earlier.
The test for safety and soundness is not whether or not the activity is legal or illegal.
the deal with Goldman was, quote, 'designed to help Santander artificially enhance its capital position.'
Based on your responses today, the New York Fed is not there in terms of acting on the issues it identifies.
So, I understand that you believe that you have made progress in implementing the recommendations from the Beim report.
I would like to have a 'yes.'
