Spencer Bachus Quotes

The New York Federal Reserve is a tool of the big banks.

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

What is the system? It revolves around the banks, the system is built on the power of the banks, so it can be destroyed through the banks.

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.

Many of the smaller banks have had to get to the point where they now have more compliance people than they have lending offices. That's crazy.

The policies that Hillary [Clinton] advocates are going to be more of the same, whether you're looking at her cozy relationships with the banks, her refusal to support Glass-Steagall, her vagueness about what actually she's going to do about the control of the big banks.

Dodd-Frank was passed. ... This is the biggest kiss that's been given to New York banks I've ever seen. This is an enormous boon for them. There've been 122 community and small banks have closed since Dodd- Frank. ... I would repeal and replace it.

I do believe that banks are special - they are very leveraged institutions by nature; therefore, it's even more critical to ensure that the governance and the process of running a banking company are well-organised, managed and regulated.

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

Banks are concerned the central bank is imposing too many regulations. If the trend continues, we'll swing to heavy regulation. We need to have balanced regulation to encourage the economy.

In the U.A.E. we were the least-regulated environment in the region, and over time we are seeing more and more regulation coming in. On the other hand, a central bank can overregulate and choke the economy, and then we will have a dead banking industry.

We should ban banks from risk-taking because society is going to pay the price.

If credit unions can grow and prosper with a 15 percent cap, so can banks.

Money never seems to be interested in strengthening regulatory agencies, for example, but always in subverting them, in making them miss the danger signs in coal mines and in derivatives trading and in deep-sea oil wells.

You know, I think many people have the mistaken impression that Congress regulates Wall Street. In truth that's not the case. The real truth is that Wall Street regulates the Congress.

Rather than going through a commercial banking training program, at the first bank I ever worked in, I was the chairman. And it was my own money, so we loaned it out like it was my own money.

I am afraid that the ordinary citizen will not like to be told that the banks can and do create and destroy money. And they who control the credit of a nation direct the policy of governments, and hold in the hollow of their hands the destiny of the people.

The economy may be complex, but Americans understand that the Wall Street banks control an outsized portion of the economy and that they have an outsized interest in their own profits.

Swipe fees have increased steadily since the introduction of debit cards 20 years ago, when there were no swipe fees at all. Merchants can't negotiate or control them. They've tried, but they have no leverage against the big banks and issuers. So they get ignored.

All the banks in Christendom could not control money.

I believe that banking institutions are more dangerous to our liberties than standing armies.

Strong banks want strong regulation.

The Commission concludes that the banking supervisors failed to adequately and proactively identify and police the weaknesses of the banks and thrifts or their poor corporate governance and risk management, often maintaining satisfactory ratings on institutions until just before their collapse. This failure was caused by many factors, including beliefs that regulation was unduly burdensome, that financial institutions were capable of self-regulation, and that regulators should not interfere with activities reported as profitable.

Regulators are very heavily lobbied and they tend to give in…. We must have strong, vigilant, regulators.

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