Political Quotes

“A bank that is $300 billion, $400 billion, $500 billion has all the economies of scale as a trillion dollar bank. The point they make about European--we cannot compete internationally--it is clear from what the Senator from Delaware said, all of our banks, when they were smaller--smaller than the largest banks in the world--could compete internationally 10 years ago, and there is no reason they cannot compete like that today. I found the huge lumbering bureaucracies, whether they are a bank or whether they are the Center for Medicare and Medicaid Services, are not as flexible and nimble and cannot keep up with the market nearly as well if they are that big. The Brown-Kaufman amendment, again, does not apply to very many institutions. No more than five or six will be even unwound a little bit. We are not going to split them all up so they are small, little community banks. They are still clearly going to be able to compete. There is no question about it under the Brown-Kaufman amendment. We give 3 years to banks to sell off some of the assets, to spin off a line of business, to sell regional operations they may have in one area of the country to comply with this amendment.…”