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2010-03-18 — bloomberg.com
" About 800 bankers fanned out across Capitol Hill yesterday, pressing lawmakers to resist creation of a consumer-protection office, shield national banks from state laws and maintain Federal Reserve oversight of smaller lenders."
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casual user at 00:50 2010-03-19 said:
Here is the quote from the President of the ABA. "ABA President Edward Yingling, who coached the bankers on their talking points, told them to emphasize that they are community bankers whose businesses could be harmed by the consumer-protection agency. “You all did nothing wrong -- the problem was mortgage brokers,†Yingling said. “ I would like someone to ask slick Eddie if brokers went to the bankers and wall street and said why don't you come up with loan programs like these? Or did wall street and the banks, and I mean all sizes of banks come to mortgage bankers and brokers and say here are loan programs for you to sell? I do not know of a single mortgage banker / broker that has written guidelines for any loan program or got in front of a bank committee to say this is the kind of risk your bank is going to take on. Who is slick Eddie going to blame when the banks he represents start to take haircuts on their commercial loans over the next few years? Permalinkadd a comment | go to forum thread
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