We heard what you said last week about the dangers of the increasing concentration of income and wealth at the top. We agree. And many of us are prepared to work our hearts out to get you reelected -- as long as you commit to doing what needs to be done in your second term.
The Fed's bail-out was not $1.2 trillion, $7.77 trillion, $16 trillion, or even $24 trillion. It was $29 trillion. That is, of course, the cumulative total. But even the peak outstanding numbers are bigger than previously reported.
My university and many other Jesuit institutions uphold a great standard in their commitment to fighting for social justice. Is investing in corporate banks, which foreclose on families who they purposefully target with sub-prime mortgage loans, socially just?
Customers have already decided they want their mobile device to be their bank. They've already decided that they want to discuss your brand and your service capability in the open community of social media.
If any bank represents the need to have a regulator in place that protects people on consumer financial issues, it's Bank of America. America's bank has become a symbol for all that is wrong with the financial sector.
Just a few months ago Jon Corzine was on the short list to be Treasury Secretary, but now he's ignoring a request to testify before a subcommittee investigating the demise MF Global and setting up a showdown that could have major implications for the president's re-election.
Those who are called to leadership when times are tough will be searching for allies and ideas from all sectors. They face a disgruntled, angry and dispirited public that has lost faith in its political and financial leaders.
By keeping their massive endowments in big banks, colleges inherently support the behaviors of those banks and everything those banks invest in. And those things happen to constitute the seeds sowed from which we now reap this crisis.
Supreme Court Justice Potter Stewart famously found the death penalty harsh and random because different states applied different rules at various times when deciding whom they would execute. In a way, the foreclosure crisis is similarly harsh and random.
Recently, the Consumer Financial Protection Bureau (CFPB) released Version 1.0 of its Supervision and Examination Manual. The Manual represents perhaps the single most important document that will be issued by the new CFPB.
The challenge is how to make our banks and our banking system stronger with the right dose of regulatory medicine. Too little will be ineffectual and too much may produce more complications than benefits.