Bank Resolution Quotes

People think when you have a, quote, 'bank failure,' that that is the end of the bank. And it isn't necessarily.

We support too big to fail. We want the government to be able to take down a big bank like JP Morgan and it could be done. We think Dodd-Frank, which we supported parts of, gave the FDIC the authority to take down a big bank.

Dodd-Frank and independent actions of banks go a long way in terms of progress on capital, liquidity, transparency, "living wills" (plans for winding down a bank in the event of a collapse) and resolutions.

Our overriding goal in restructuring our financial architecture should be that taxpayers never again have to save a failing financial institution.

You shouldn't be trying to create a system where no bank fails, but you should be creating one that catches a bank and allows it to fail without impacting the financial markets.

No bank should be too big or too complex to fail, but almost any bank is too big to liquidate quickly, particularly in the midst of a crisis.

We need the government to force the banks to write down all their bad assets now and then recapitalize themselves, preferably with private capital. Those banks that cannot raise sufficient capital should be seized and their deposits sold off.

If there is a risk in a bank, our first question should be 'Okay, what are you in the bank going to do about that? What can you do to recapitalise yourself?'. If the bank can't do it, then we'll talk to the shareholders and the bondholders, we'll ask them to contribute in recapitalising the bank, and if necessary the uninsured deposit holders.