Sunday, December 11, 2011

Quote of the Day:

This quote is taken from a late September 2011 article in WSJ by Duff McDonald
The words of Financial Analyst Meredith Whitney:
"Bankers complaining about new regulations and higher capital requirements remind me of melodramatic soccer players. You know, the ones that get barely brushed and they're on the ground rolling around and moaning? There are plenty of countries that have higher capital standards than the U.S., and they deal with it. We're supposed to be dealing with the smartest minds out there, and they can't adjust to a different environment?  It's a reflection of the fact that over the last 20 years it's been so easy to make money off the mortgage industry that they can't figure out a way to rationalize their businesses.... Rules change. Deal with it.  This is what companies do time in and time out. Bankers are embarrassing themselves with all this moaning.  This may get me into trouble, but they [bankers] could learn something from the rest of corporate America."

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