The Financial Times - Opinion Piece by Robert Jenkins
The Better Banking Law take: Refreshing thoughts indeed on statesmanship by banking leaders encompassing integrity, courage, wisdom and leadership in global finance. It goes without saying we need individuals with such qualities to rise to the occasion and support, rather than resist, bank reform.
The New York Times - William D. Cohan
The Better Banking Law take: Cohan accurately outlines ethical issues and cultural flaws that Wall Street must address. In particular, we applaud Mark Carney's critical perspective, as he said:
“Virtue cannot be regulated ... Even the strongest supervision cannot guarantee good conduct. Essential will be the rediscovery of core values, and ultimately this is a question of personal responsibility. More than mastering options pricing, company valuation, or accounting, living the right values will be the most important challenge” for Wall Street.
The Financial Times - Daniel Davies
The Better Banking Law take: Regulators must take a stand in good times, when banks are strong and regulation is unpopular, as well as bad times.
The New York Times via Reuters - Huw Jones
The Better Banking Law take: We applaud Andrew Tyrie's tough stance on implementing the UK statute based on Sir John Vickers' ring-fencing plan. Should the UK's big banks attempt to "game" the ring-fence, the result will be full separation of the retail arm to protect taxpayers.
The Wall Street Journal - Margot Patrick
The Better Banking Law take: Bank of England's tougher stress tests for top 7 UK banks are indeed a key tool to avert another financial crisis.
