Bank Restructuring 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.

If I could wave a magic wand, I'd break up the banking system.

As many have pointed out, it is not clear that we need so many public sector banks. The system could be better off if they are consolidated into fewer but healthier banks.

Temporary nationalization of the banks that are in very bad shape would mean basically that the government is the temporary owner. I always believe that the government should focus on its comparative advantages, and banking is not one of them. It should, therefore, if it nationalizes banks, sell them back to the private sector.

The fact that the government had to put up hundreds of billions of dollars to Citibank in guarantees was a public declaration that Citibank was a mess. Making Citibank go through financial restructuring would not have conveyed any more different information. So it's very hard to see why it would have had that kind of a panic if it were done well.

Some banks won’t make it. Other banks are going to make sure that we strengthen. All deposits are going to be safe for ordinary people, but we’re going to have to bring out some of these bad assets.

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.

There's something called, 'resolution authority,' which gives the government the power to takeover a failing bank - something they didn't have pre-Lehman Brothers.

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.

The only way to make sure no bank is too big to fail is to make sure no bank is too big.

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.