Regulators Quotes - Page 2

• The classic problem as an entrepreneur is that they have a hard time delegating. But that's really crazy. Recruiting other executives is critical, so is dealing with customers and dealing with regulators. Those are functions that only the top founders can do.

  Robert Pozen

  Crazy, Hard Times, Entrepreneur

  "How To Delegate Responsibility To Other People" by Aimee Groth, www.businessinsider.com. January 18, 2013.

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• Those tragic comedians, the Chamber of Commerce red hunters, the Women's Christian Temperance Union smellers, the censors of books, the Klan regulators, the Methodist prowlers, the Baptist guardians of sacred vessels-we have the national mentality of a police lieutenant.

  H. L. Mencken

  Christian, Book, America

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• Regulators are a backstop: they don't own banks. The governance at the top of our leading banks has been shown to be lamentably weak. No one at the top of Barclays will take responsibility for systemic abuse.

  Vince Cable

  Responsibility, Abuse, Weak

  "Banking scandal: 'the rot was widespread, the corruption endemic'" by Vince Cable, www.theguardian.com. June 30, 2012.

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• So perhaps the most worrying single remark made by a responsible banking official during the current crisis came from Jochen Sanio, the head of Germany's banking regulator BaFin. He warned on Aug. 1 that his country could be facing the worst banking crisis since 1931 - a reference to the collapse of Austria's Kredit Anstalt, which provoked a wave of bank failures across Europe.

  Martin Walker

  Country, Banking Crisis, Europe

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• We should probably stop trading derivatives, anything more complex than regular options ... I am an options trader, and I don't understand options. How do you want a regulator to understand them?

  Nassim Nicholas Taleb

  Business, Want, Derivatives

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• This is the joint responsibility of everyone who was involved in the introduction of the euro without understanding the consequences. When the euro was introduced, the regulators allowed banks to buy unlimited amounts of government bonds without setting aside any equity capital. And the European Central Bank discounted all government bonds on equal terms. So commercial banks found it advantageous to accumulate the bonds of the weaker countries to earn a few extra basis points.

  George Soros

  Country, Responsibility, Government

  "George Soros on the Euro Crisis". Interview with Der Spiegel, www.georgesoros.com. June 26, 2012.

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• It strikes me as hubris that Universal will buy EMI. What it will do is create a super-major that will have far too much power... I think when Universal goes up over 40 percent market share, I don't see how reasonable regulators can countenance. It will impact not just labels, but artists and cultural diversity.

  Edgar Bronfman, Jr.

  Artist, Thinking, Impact

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• However, you have to recognize that regulations will never be completely successful and they will always be full of holes. You must constantly be ready to fill new holes. Actually regulation should be kept to a minimum, but there has to be some cooperation between market participants and authorities - as was the case in the early postwar years. The Bank of England was a very successful regulator by cooperating with market participants. This cooperative spirit was broken by the market fundamentalists.

  George Soros

  Successful, Years, Broken

  "'The Economy Fell off the Cliff'". Interview with Mathias Müller von Blumencron, Gregor Peter Schmitz and Gabor Steingart, www.spiegel.de. November 24, 2008.

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• Passion, though a bad regulator, is a powerful spring. Any absorbing passion has the effect to deliver from the little coils and cares of every day: 'tis the heat which sets our human atoms spinning, overcomes the friction of crossing thresholds, and first addresses in society, and gives us a good start and speed, easy to continue, when once it is begun.

  Ralph Waldo Emerson

  Powerful, Spring, Passion

  Ralph Waldo Emerson (1866). “The Complete Works of Ralph Waldo Emerson: Comprising His Essays, Lectures, Poems, and Orations”, p.419

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• In China, going public has a cachet from a branding standpoint. It will improve our image to ad agencies, government regulators.

  Victor Koo

  Agency, Government, Branding

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• A nervous excitability, a chronic exaltation of the passion, in which commingle the inferior life of the individual and its exterior manifestations, a state in which sentiment, idea, and will are confounded together, where for the lack of the powerful corrective of logic, the flights of imagination know no bounds, where life and human activity are deprived of a regulator, and move outside of material and concrete factors, by the sole interior force of the soul.

  Kadmi Cohen

  Powerful, Moving, Passion

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• The global financial crisis is a great opportunity to showcase and propagate both causal and moral institutional analysis. The crisis shows major flaws in the way the US financial system is regulated and, more importantly, in our political system, which is essentially a bazaar of legalized bribery where financial institutions can buy themselves the governmental regulations they want, along with the regulators who routinely receive lucrative jobs in the industry whose oversight had formerly been their responsibility, the so-called revolving-door practice.

  Thomas Pogge

  Jobs, Responsibility, Opportunity

  Source: www.truth-out.org

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• But let me tell you what happens when regulations go too far, when they seem to exist only for the purpose of justifying the existence of a regulator. It kills the people trying to start a business.

  Marco Rubio

  People, Trying, Purpose

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• The philosophy of Atheism represents a concept of life without any metaphysical Beyond or Divine Regulator. It is the concept of an actual, real world with its liberating, expanding and beautifying possibilities, as against an unreal world, which, with its spirits, oracles, and mean contentment has kept humanity in helpless degradation.

  Emma Goldman

  Atheist, Philosophy, Real

  Emma Goldman (1915). “Mother Earth Bulletin”

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• Every deal is a regulated deal. Regulators will tell you how to take your money home.

  David Bonderman

  Home, Deals

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• The securitisation of mortgages added a new dimension of systemic risk. Financial engineers claimed they were reducing risks through geographic diversification: in fact they were increasing them by creating an agency problem. The agents were more interested in maximising fee income than in protecting the interests of bondholders. That is the verity that was ignored by regulators and market participants alike.

  George Soros

  Creating, Agency, Risk

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• It is vital for officials and regulators to have input from people within our businesses who understand the intricacies of how financial markets operate and the consequences of certain policy decisions.

  Jamie Dimon

  People, Decision, Input

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• Passion, though a bad regulator, is a powerful spring.

  Ralph Waldo Emerson

  Powerful, Spring, Passion

  Ralph Waldo Emerson (1966). “Journals and Miscellaneous Notebooks: 1824-1838”, p.32, Harvard University Press

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• Emergency Valve Regulators," she repeated. "So you do know what your doing? "Not really," he said yanking another wire. 'I made up that term to keep you happy. I'm just pulling all the red wires because they're the pretty ones.

  Derek Landy

  Wire, Red, Emergencies

  Derek Landy (2015). “Skulduggery Pleasant:”, p.76, HarperCollins UK

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• Regulators have not been able to achieve the level of future clarity required to act pre-emptively. The problem is not lack of regulation but unrealistic expectations. What we confront in reality is uncertainty, some of it frighteningly so...

  Alan Greenspan

  Ignorance, Reality, Expectations

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• There is not necessarily a good reason why a regulator should have to be involved in product design and marketing for rich and sophisticated investors. We recommend that such investors should be able to sign a piece of paper, which allows them to go ahead and buy unregulated products at their own risk.

  John Redwood

  Should Have, Design, Risk

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• The brain is conceded to be the master organ of the body, the regulator of life, the source of human progress.

  Frederick Tilney

  Brain, Progress, Body

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• My view is that Washington and the regulators are there to serve the banks.

  Spencer Bachus

  Views

  "Spencer Bachus finally gets his chairmanship" by Mary Orndorff Troyan, blog.al.com. December 9, 2010.

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• My preference is for the Federal Reserve to be the systemic risk regulator, because the responsibility for identifying and limiting potential problems is a natural complement to its role in monetary policy.

  Henry Paulson

  Responsibility, Risk, Roles

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• You read constantly that banks are lobbying regulators and elected officials as if this is inappropriate. We don't look at it that way.

  Jamie Dimon

  Looks, Lobbying, Way

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