Trump Administration to Bankers: You’re Not the Villain Anymore – Jay Davidson

Mr. Quarles could be one of the most significant benefactors to the economy.  He understands the relationship of regulations to business expansion; they are inversely related, as one goes up the other goes down.  The last eight years unders his predecessor, an Obama appointee, has been like a Kafka novel – you wouldn’t believe it unless you lived through it.
Commercial banks are the final gateway that controls the flow of money into the economy.  Regulate us, as did Obama’s minions, and we are forced, by federal regulation, to stop lending.  We stop lending and small business suffer.  Small business suffers and job grow stagnates.  Sound like the last eight years?
The truly Uninformed think they are getting safety through tyrannical regulation.  The opposite is true, bank regulators have introduced systemic risk into the financial system with their excess manipulations of leverage capital and lending rules.  Just as Congress introduce extreme risk into the economy when they manipulated sub-prime lending in the 1990’s.  Mr. Quarles is a breath of fresh, invigorating air.  – Jay Davidson

Trump Administration to Bankers: You’re Not the Villain Anymore

Financial regulators, some of them longtime bankers, now sound friendlier tone

Randal Quarles, the Federal Reserve’s regulatory chief, attended a nomination hearing in Washington on July 27. Earlier this month, Mr. Quarles expressed sympathy for bankers’ complaints about annual stress tests and other matters, signaling the Trump administration’s change in tone toward the financial industry.

Randal Quarles, the Federal Reserve’s regulatory chief, attended a nomination hearing in Washington on July 27. Earlier this month, Mr. Quarles expressed sympathy for bankers’ complaints about annual stress tests and other matters, signaling the Trump administration’s change in tone toward the financial industry. Photo: Andrew Harrer/Bloomberg News

Jay Davidson