User talk:Mary Bottari

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Hi Mary,

Here is a link to views of a group of monetary reformists on Basel I, II and III effects:

"The proposed Basel III regulatory capital requirements are an immense and unnecessary burden that will actually threaten the existence of banks with under $1billion in assets. These new regulations will further drive consolidation into a few bigger banks. Some on Wall Street, like mergers and acquisitions expert John Slater, predict that Basel III’s compliance costs will lead to a merger boom, and that in the next 3-5 years 20-30 percent of all banks will merge, further consolidating wealth in fewer and fewer hands."

Further community bank consolidation articles:

Hi Mary,

I made some minor change to the formatting of the material on the page (see here). I also added a couple of tage for where additional references are needed (though they may be cover in one of the existing references).--Bob Burton 06:57, 17 September 2009 (EDT)

Added this language to the Press Release

The Financial Services Roundtable's top legislative priority is to make sure Obama's proposed Consumer Financial Protection Agency has no authority. They actually claim that the current banksters who got America into this mess should control to keep their own house, "This agency will separate consumer protection from the safety and soundness regulation of the current prudential regulators, the agencies best positioned to monitor and enforce consumer protection." Unbelieveabley, they say that "It will jeopardize the safety and soundness of many firms and stifle innovation by requiring firms to offer “plain vanilla” products." So, if we understood what they were doing that would stifle innovation? Do we really want this innovation?

They're also fighting to stop any limits to excessive executive compensation. They're laughable proposal is to let the company's Board of Directors decide, "the Board of Directors should oversee the executive compensation system’s design and practices." How is this an improvement over the current system? The average CEO in the U.S. receives 319 times that of their average employee.

Legislative priority number three is toothless derivatives regulation. Not even the people determining the value of derivatives knew what they were really valued at and the housing market collapsed. The Financial Services Roundtable doesn't have a problem with standardized derivatives being scutized, but amazingly the more exotic stuff should be hands off, "clearing sophisticated, customized derivatives should not be required because they allow flexibility for institutions to meet their customers’ needs." Congress should care about meeting the average American's needs, not wealthy banksters playing games with our economy.

Reference: -- Sarah