Regulators Quotes

Markets are imperfect. So you do need regulation, knowing that the regulators are also human. ~ George Soros

There are no absolutes in this world, and there will always be mistakes that are made within brokerage firms; there will always be people who set out to deceive the regulators and even deceive their own senior management. ~ Mary Schapiro

There are a number of institutions globally where the Federal Reserve typically leads the U.S. effort to work with financial regulators from other countries, and we try to, to the extent possible, establish international standards for how - the amount of capital a bank should hold, for example, or how much. ~ Ben Bernanke

You can't overestimate what happens when you encourage regulators to believe that the goal of regulation is not to regulate. ~ Joseph Stiglitz

No one doing big business can avoid some contact with government agencies, regulators, and policy makers. ~ Mikhail Prokhorov

What the banking system needs is creditors who monitor risk and cut their exposure when that risk is too high. Unlike regulators, creditors and counterparties know the details of a deal and have their own money on the line. ~ Tyler Cowen

It's a safe banking system, a sound banking system. Our regulators are on top of it. This is a very manageable situation. ~ Henry Paulson

I came to find you last night," Lena says more quietly. "When I knew there was going to be a raid...I snuck out. I was there when - when the regulators came. I barely made it out. Alex helped me. We hid in a shed until they were gone..."
I close my eyes and reopen them. I remember wiggling into the damp earth, bumping my hip against the window. I remember standing, and seeing the dark forms of bodies lying like shadows in the grass, and the sharp geometry of a small she shed, nestled in the trees.
Lena was there. It was almost unimaginable.
"I can't believe that. I can't believe you snuck out during a raid - for me." My throat feels thick again, and I will myself not to start crying. For a moment I am overwhelmed by a feeling so huge and strange, I have no name for it: It surges over the guilt and the shock and the envy; it plunges a hand into the deepest part of myself and roots me to Lena. ~ Lauren Oliver

The traditional hospital practice of excluding parents ignored the importance of attachment relationships as regulators of the child's emotions, behaviour and physiology. The child's biological status would be vastly different under the circumstances of parental presence or absence. Her neurochemical output, the electrical activity in her brain's emotional centres, her heart rate, blood pressure and the serum levels of the various hormones related to stress would all vary significantly. Life is possible only within certain well-defined limits, internal or external.

We can no more survive, say, high sugar levels in our bloodstream than we can withstand high levels of radiation emanating from a nuclear explosion. The role of self-regulation, whether emotional or physical, may be likened to that of a thermostat ensuring that the temperature in a home remains constant despite the extremes of weather conditions outside. When the environment becomes too cold, the heating system is switched on. If the air becomes overheated, the air conditioner begins to work.

In the animal kingdom, self-regulation is illustrated by the capacity of the warm-blooded creature to exist in a broad range of environments. It can survive more extreme variations of hot and cold without either chilling or overheating than can a coldblooded species. The latter is restricted to a much narrower range of habitats because it does not have the capacity to self-regulate the internal environm ~ Gabor Mate

Radio Frequency Interference (RFI) is a major problem from poorly tested products and it should be dealt with sooner rather than later by government regulators. ~ Steven Magee

Without attempting any systematic employment of time, and carrying it out, so far as they control circumstances, most women are rather driven along by the daily occurrence of life; so that, instead of being the intelligent regulators of their own time, they are the mere sport of circumstances. ~ Catharine Esther Beecher

Between 1857 and 1929, while regulators largely stood idle, the American economy swung through 19 national boom-and-bust gyrations that sometimes threatened to wipe out whole industries within months. ~ Charles Duhigg

Every time Washington regulators pass down another heavy-handed rule or levy another hefty fine, Colorado loses potential jobs, revenue, and economic security. ~ Bob Beauprez

The securitisation of mortgages added a new dimension of systemic risk. Financial engineers claimed they were reducing risks through geographic diversification: in fact they were increasing them by creating an agency problem. The agents were more interested in maximising fee income than in protecting the interests of bondholders. That is the verity that was ignored by regulators and market participants alike. ~ George Soros

By common consent of the nations, gold and silver are the only true measure of value. They are the necessary regulators of trade. I have myself no more doubt that these metals were prepared by the Almighty for this very purpose, than I have that iron and coal were prepared for the purposes in which they are being used. ~ Hugh McCulloch

Perhaps more to the point for TBTF (Too Big To Fail bank), if a SIFI (Systemically Important Financial Institution) does fail I have little doubt that private investors will in fact bear the losses-even if this leads to an outcome that is messier and more costly to society than we would ideally like. Dodd-Frank is very clear in saying that the Federal Reserve and other regulators cannot use their emergency authorities to bail out an individual failing institution ~ Jeremy C. Stein

These elements are important for several reasons. First, offers in service negotiations may require the binding of existing regulatory situations, and countries should avoid scheduling legally binding measures that domestic regulators do not find adequate or fully developed. ~ Sebastian Saez

Even a casual reader of the financial pages knows that microcaps are a perennial headache for regulators and, above all, for investors because they have been prone to abuse by stock manipulators. ~ Gary Weiss

I urge telecommunications regulators to develop a commercial strategy for delivering effective access to the continent. ~ Mark Shuttleworth

Every day Big Government heaps demands and restrictions upon businesses that sink some enterprises, cause others to direct resources away from serving customers and instead toward jumping through hoops of lawyers and regulators, and prevent other operations from ever getting off the ground. ~ Joel Miller

Regulators in Britain, America and Switzerland fined six banks - HSBC, Royal Bank of Scotland, UBS, Bank of America, JPMorgan Chase and Citigroup - a total of $4.3 billion for manipulating foreign exchange markets. Britain's Financial Conduct Authority said that traders at the banks had colluded to rig important benchmark exchange rates between 2008 and 2013. ~ Anonymous

The ability of the 1 percent to buy politicians and regulators is nothing new in American politics - just as inequality has been a permanent part of our economic system. This is true of virtually all political and economic systems. ~ Eric Alterman

It's almost sickening now that the regulators 'on the beat' while the biggest credit collapse in modern financial history unfolded are now patting themselves on the back for their 'brave' stance on short-selling! ~ James Chanos

According to an article in the Washington Post: The Food and Drug Administration has repeatedly urged antidepressant manufacturers not to disclose to physicians and the public that some clinical trials of the medications in children found that drugs were no better than sugar pills, according to documents and testimony released at a congressional hearing yesterday. Regulators supressed the negative information on the grounds that it might scare families and physicians away from the drugs, according to testimony by drug company executives. For at least three medications, they said, the FDA blocked the companies' plans to reveal the negative studies in drug labels. ~ Irving Kirsch

Regulation has gone astray ... Either because they have become captives of regulated industries or captains of outmoded administrative agencies, regulators all too often encourage or approve unreasonably high prices, inadequate service, and anticompetitive behavior. The cost of this regulation is always passed on to the consumer. And that cost is astronomical. ~ Edward Kennedy

I don't know about you, but I'm betting that when it comes to doing the right and good thing, the Little Sisters of the Poor know better than the regulators at the Department of Health and Human Services. ~ Jeb Bush

The history of successful cases, some of which are in this museum, illustrates that often the regulators and legislatures don't wake up until some plaintiff gets a lawyers and digs out the cover-ups and the incriminating information about a safety defect in an automobile or another product. ~ Ralph Nader

(When the company was finally broken up in the 1980s to satisfy antitrust regulators, it was worth more than the combined worth of General Electric, General Motors, Ford, IBM, Xerox, and Coca-Cola, and employed a million people.) Bell moved to Washington, D.C., became ~ Bill Bryson

Most businesses believe regulators intend to fine them rather than help them protect their workers. Serious violations should bring real consequences, but minor violations should only incur warnings that encourage compliance. ~ James Lankford

Regulators are power-lusting mediocrities. ~ Yaron Brook

Instruct regulators to look for the newest fad in the industry and examine it with great care. The next mistake will be a new way to make a loan that will not be repaid. ~ L. William Seidman

No wonder the regulators decided on segregation of boys and girls: Otherwise, it would have been a nightmare, this feeling angry and self-conscious and confused and annoyed all the time. ~ Lauren Oliver

A lot of the other companies in the space have really left a bad taste in regulators' mouths. It's actually been a huge advantage when we come in and we take the time to sit down and get to know them, explain the business, explain what we do. ~ Logan Green

I started out by viewing the marketplace as a cruel place, where you need intervention by government and lawyers to protect people. But after watching the regulators work, I have come to believe that markets are magical and the best protectors of the consumer. It is my job to explain the beauties of the free market. ~ John Stossel

Short-sellers perform a useful function in the market as conduits of negative information, and shorts often complain that they are discriminated against by regulators. ~ Gary Weiss

The guiding purpose of the government regulator is to prevent rather than to create something. ~ Alan Greenspan

Every deal is a regulated deal. Regulators will tell you how to take your money home. ~ David Bonderman

Government regulators are another name for police. ~ James Cook

However ... ," Satan said.
Bick sighed. "However, I didn't count on the growing interference of lawyers, regulators, bureaucrats and politicians into my business. I swear it seems that every year they stick their noses into more and more."
Lucifer chuckled. "Sorry about that-I outdid myself there. ~ R.S. Belcher

Regulators are a backstop: they don't own banks. The governance at the top of our leading banks has been shown to be lamentably weak. No one at the top of Barclays will take responsibility for systemic abuse. ~ Vince Cable

Apparently modern financial regulators are vastly more sophisticated than we were as financial regulators 25 years ago - because we had never figured out that the key to financial stability was leaving felons in charge of the largest financial institutions in the world. ~ William K. Black

My view is that Washington and the regulators are there to serve the banks. ~ Spencer Bachus

an official with the U.S. Securities and Exchange Commission learned I was writing about specialization and contacted me to make sure I knew that specialization had played a critical role in the 2008 global financial crisis. "Insurance regulators regulated insurance, bank regulators regulated banks, securities regulators regulated securities, and consumer regulators regulated consumers," the official told me. "But the provision of credit goes across all those markets. So we specialized products, we specialized regulation, and the question is, 'Who looks across those markets?' The specialized approach to regulation missed systemic issues. ~ David Epstein

But the French writers always had more originality and independence than others, and that regulator, which elsewhere was religion, long since ceased to exist for them. ~ Henryk Sienkiewicz

The corporation is not a person; it is a legal fiction backed up by guns and police and jail cells and taxing authorities and the regulators called government. ~ Jerry Brown

Most companies aim to get bigger. But beyond a certain point, bigness becomes synonymous with badness. Think of Big Pharma, Big Auto, Big Oil. Worse, if you are regularly described as one of the Big Four, Five, or Six in any business sector, you are probably already in the sights of regulators and lawmakers. ~ Andrew Hill

Harrington never worked in a place like this, a system where 'underbudgeting' is designed to arbitrarily keep costs down while acting as a defense against public attack. The city and state thus appear magnanimous, politicians fair-minded regulators of the public good . . . until the closed cases lead to starvation, child abuse and suicides at rates so great they arouse the public's conscience. Then it all starts again - bigger budgets, closer supervision, more MSW programs . . . while the poor are blamed because according to our Puritan tradition of self-reliance those too weak or stupid to contribute get pushed aside, deserve not to survive ~ Philip Schultz

You don't make a system more effective by increasing the number of regulators. ~ Heather Brooke

We should probably stop trading derivatives, anything more complex than regular options ... I am an options trader, and I don't understand options. How do you want a regulator to understand them? ~ Nassim Nicholas Taleb

It's hardly a radical idea to suggest that regulators and legislators understand the law now, is it? ~ Nigel Farage

This is the joint responsibility of everyone who was involved in the introduction of the euro without understanding the consequences. When the euro was introduced, the regulators allowed banks to buy unlimited amounts of government bonds without setting aside any equity capital. And the European Central Bank discounted all government bonds on equal terms. So commercial banks found it advantageous to accumulate the bonds of the weaker countries to earn a few extra basis points. ~ George Soros

To see justice done, men were prepared to take the law into their own hands. In the Carolinas, bands of vigilantes or Regulators crisscrossed the territory in the late 1760s, stamping out local hooligans and waging war on interlopers. This vigilante attitude was epitomized by a Scots Borders descendant from Pittsylvania County, Virginia, named Captain William Lynch. He ruled as virtual dictator of his county, punishing wrongdoers and warning lawless elements that "we will inflict such corporal punishment on him or them, as to us shall seem adequate to the crime committed or the damage sustained." "Lynch's Law," and the punishments and hangings it inflicted, also became part of American culture - an ugly part, but a legacy of a harsh world and a harsh, unforgiving people. ~ Arthur Herman

History is on the side of the regulators. ~ Ha-Joon Chang

The American Medical Association not only represents the roughly 800,000 practicing physicians in the United States, but also sets the official standards for treatment for virtually every patient malady, and is instrumental in directing and controlling the supply of doctors entering medical school. By virtue of an affiliated licensing body called the Liaison Committee on Medical Education (LCME), the AMA determines which medical schools receive its official accreditation, and for over a hundred years it has been very stingy with its approval process. Furthermore, the AMA together with its close affiliate, the American Association of Medical Colleges, conducts regular studies to assess the necessary supply of medical doctors and advises existing medical schools as well as state and federal regulators as to optimal admission levels for new students - and these too have been artificially and unnecessarily constricted[22]. ~ Reid Jenner

For it is the very commodities selected for maximum price-fixing that the regulators most want to keep in abundant supply. But when they limit the wages and the profits of those who make these commodities, without also limiting the wages and profits of those who make luxuries or semiluxuries, they discourage the production of the price-controlled necessities while they relatively stimulate the production of less essential goods. ~ Henry Hazlitt

The big Wall Street firms, seemingly so shrewd and self-interested, had somehow become the dumb money. The people who ran them did not understand their own businesses, and their regulators obviously knew even less. ~ Michael Lewis

The question is not whether we should or should not regulate; it
is how much should we regulate and who the regulators should
be. We went overboard on deregulation under Reagan. Under
Bush, many people lost in the casino. Now we have the Obama
administration overreacting and overreaching with regulation that
does the exact opposite of wealth creation. If we are to have change
we can believe in, then we could start by replacing the majority
of the lawyers in regulatory agencies with actual experienced, successful
business veterans. They would have recognized the early warning
signs of many of the financial debacles created by the bubble-bust
cycle. ~ Ziad K. Abdelnour

The "old school" of wastewater treatment, still embraced by most government regulators and many academics, considers water to be a vehicle for the routine transfer of waste from on place to another. It also considers the accompanying organic material to be of little or no value. The "new school", on the other hand, sees water as a dwindling, precious resource that should not be polluted with waste; organic materials are seen as resources that should be constructively recycled. My research for this chapter included reviewing hundreds of research papers on alternative wastewater systems. I was amazed at the incredible amount of time and money that has gone into studying how to clean the water we have polluted with human excrement. In all of the research papers, without exception, the idea that we should simply stop defecating in water was never suggested. ~ Joseph Jenkins

A single agency responsible for systemic risk would be accountable in a way that no regulator was in the run-up to the 2008 crisis. With access to all necessary information to monitor the markets, this regulator would have a better chance of identifying and limiting the impact of future speculative bubbles. ~ Henry Paulson

The financial collapse of 2008 got its start with predatory mortgages, that weren't sold by community banks and credit unions, they were sold by fly by night mortgage brokers who had almost zero federal oversight and then the big banks looked over, saw the profit potential and they wanted it bad. So they jumped in and sold millions of these terrible mortgages while the bank regulators just looked the other way. ~ Elizabeth Warren

It is vital for officials and regulators to have input from people within our businesses who understand the intricacies of how financial markets operate and the consequences of certain policy decisions. ~ Jamie Dimon

In a world of businessmen and financial intermediaries who aggressively seek profit, innovators will always outpace regulators; the authorities cannot prevent changes in the structure of portfolios from occurring. What they can do is keep the asset-equity ratio of banks within bounds by setting equity-absorption ratios for various types of assets. If the authorities constrain banks and are aware of the activities of fringe banks and other financial institutions, they are in a better position to attenuate the disruptive expansionary tendencies of our economy. ~ Hyman Minsky

[The government involvement in the economy] is so overwhelming and beyond anything we have ever seen, that we risk moving this country away from a government of the people to a government of the regulators. ~ Tom J. Donohue

It strikes me as hubris that Universal will buy EMI. What it will do is create a super-major that will have far too much power ... I think when Universal goes up over 40 percent market share, I don't see how reasonable regulators can countenance. It will impact not just labels, but artists and cultural diversity. ~ Edgar Bronfman, Jr.

Prudence is not only the first in rank of the virtues political and moral, but she is the director, the regulator, the standard of them all. Metaphysics cannot live without definition; but prudence is cautious how she defines. Our courts cannot be more fearful in suffering fictitious cases to be brought before them for eliciting their determination on a point of law, than prudent moralists are in putting extreme and hazardous cases of conscience upon emergencies not existing. ~ Edmund Burke

I've spent enough time in the business community to know there are certain regulators who are very constructive in their approach - those who enforce the laws and who actually want to help you comply - and there are others who have a prosecutorial attitude. ~ Chris Gabrieli

The credit crunch was based on a climate (the post-Cold War victory party of free-market capitalism), a problem (the sub-prime mortgages), a mistake (the mathematical models of risk) and a failure, that of the regulators. ~ John Lanchester

Y'know, watching government regulators trying to keep up with the world is my favorite sport. ~ Neal Stephenson

I think an ethical lawyer would absolutely refuse, if he or she had knowledge that this is the purpose for which her work would be used, that is, to conceal a fraudulent scheme from federal regulators. ~ Viet D. Dinh

We are totally open kimono with regulators. ~ Jamie Dimon

Government barriers on Business For example, the Endangered Species Act prevents 'disturbing the habitat' of the spotted owl. That has restricted 4.2 million acres of forest from development, leading to the loss of 30,000 lumber-related jobs and the annual loss of 1.1 billion board feet of lumber. This has driven up the cost of houses by at least $4,000 each. In addition, regulators ordered a Kansas City bank to install a Braille keypad on its drive-through automatic teller machine, presumably to aid any blind drivers. The list goes on and on. ~ Rush Limbaugh

Under the constitution, there was never meant to be a federal police force. Even an FBI limited only to investigations was not accepted until this century. Yet today, fueled by the federal government's misdirected war on drugs, radical environmentalism, and the aggressive behavior of the nanny state, we have witnessed the massive buildup of a virtual army of armed regulators prowling the States where they have no legal authority. The sacrifice of individual responsibility and the concept of local government by the majority of American citizens has permitted the army of bureaucrats to thrive. ~ Ron Paul