A well respected bank CEO Robert Wilmers of M&T Bank Corp. stated to that “there are powerful combination factors that have significant risks to the long-term health of the American economy.” Occurring to the interview Robert blamed much of his position on how regulators and lawmakers have failed to determine risky trading and size distinguishing between large and small banks. My favorite quote of the interview was his statement of categorizing bank sizes and risk “as the same species as traditional commercial banks is akin to describing dinosaurs as simple reptiles.” So with these higher costs being pushed down to customers eventually taking the burn of the past financial crisis and the bail- out cost will Americans be restricted to the overall capitalistic consequences of poor and slow lawmakers and regulators. Who knows but in the mean time read more about the Garp article with Mr. Wilmers here: http://www.garp.org/news-and-publications/overview/story.aspx?newsId=25855
Friday, March 25, 2011
Is another financial crisis in the works?
Labels:
capitalistic,
Financial crisis,
M T Bank Corp,
Robert Wilmers
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