Barack Obama Quotes

The Federal Reserve has always recognized the importance of allowing markets to work, and government oversight of financial firms will never be fully effective without the aid of strong market discipline.

I mean, everyone agrees with stress tests for banks. I mean that's clear. But banks should do that on their own. And they should worry about their own capital functioning. That's what they should do. It shouldn't be a government function.

We should distinguish carefully skepticism about Big Government from contempt for all government.

Regulation is necessary, particularly in a sector, like the banking sector, which exposes countries and people to a risk.

I find it very difficult to see a scenario where financial regulation doesn't pass the Senate.

I believe that smaller government is better government. But I also believe that in the areas where government does play a legitimate role, we should demand that it is done better.

We can't expect Wall Street to police itself - that's why we have a federal government.

This country, of course, needs fundamental reform of our financial regulatory system, as I, and many other financial institution executives, have publicly advocated for a considerable period.

No significant deregulation of financial institutions occurred in the last 30 years.

The regulators can’t do it. These institutions are just too large and complex.

Since 1840 the United States has had 12 systemic banking crises and Canada has had none …. It all has to do with politics.

The investment banks should either choose to be regulated as banks or should arrange to conduct their affairs to not require the stop-gap support of the Federal Reserve.

Large financial institutions in this country will always play a role that is essential to our economic growth. But they must only be permitted to grow and interconnect, throughout our economy, under careful oversight and with a mechanism for allowing those connections to be broken safely.

I don't think the government needs to be frightened of the banks in the slightest.

Dodd-Frank is an important statute, but often when the government believes it's handling a particularly important issue, there can be a tendency to overreach.

If you ever had the misfortune of reading all 2,000 pages of Dodd-Frank, which I have done - and it almost killed me - basically, all it does is create a list of all the things it wants the Fed to fix.

Governance is very important in NBFCs.

The biggest issue I have with the CFPB is that I don't believe that they should be funded out of profits from the Federal Reserve.

"Big" government? Who wants that? I just want effective government. That means America's government needs to be big in some places, small in others and non-existent in others.

The idea that either individuals or organisations are 'too big to fail' or that the tech and start-up sector is somehow different is wrong.

The too-big-to-fail reform project is massive in scope. In my view, it holds real promise. But the project will take years to complete. Success is not assured.

I support adjustments designed to enhance the efficiency and effectiveness of regulation without sacrificing safety and soundness or undermining macroprudential goals.

When the banks grow to or when these financial institutions grow to such a size that they can't sustain themselves, or what have you, they have problems, economic problems, or financial problems, they shouldn't be able to look back to you and I, the taxpayer, to be bailed out.

Reasonable regulations are essential to protect consumers from harmful practices and ensure that consumer financial markets operate in a fair, transparent, competitive manner.

Financial regulators should be particularly attentive to the financial consequences of their actions.