Academics
Cry Wolf Quotes
The problem with the Community Reinvestment Act is not its goals but its vagueness and ambiguity that have led to a nightmare of documentation, paperwork and formalized process that diverts bankers' time and bank resources from being utilized to serve our communities… we need to build a system of supervision and enforcement that encourages creativity and substance in community reinvestment lending.
Mr. Ankeny, a former director of the Bureau of Mines, has made the statement publicly that passage of bills would not be expected to reduce the accident rate. Therefore, how can we, in logic or in good conscience, say that we are going to pass…a bill to improve the safety record, when two previous directors of the Bureau of Mines said that passage of laws would not reduce the accident rate?
It is simply wrong-headed policy…[Federal and state banking regulations] require or aggressively nudge banks into subsidizing parts of the community [The proposals] would only aggravate the problem.
The people in this room have the same amount of lead in their blood as do the natives in New Guinea. If you take lead out of the air, you’ll still have it in your body.
