The Head Spinning Split Over BankingMike Mcnamee and Tim Smart
Bankers are having a hard time figuring out what Washington wants from them these days. The Bush Administration, fretting that tight-fisted bankers are hobbling economic recovery, wants more aggressive lending. Congress, worried that another savings and loan mess is about to land on it, has ordered tighter regulation to cut risk. The result: "There's absolute schizophrenia in Washington," complains Edward L. Yingling, chief lobbyist for the American Bankers Assn. "The banking industry feels like the wishbone at Thanksgiving." And bankers should not expect relief any time soon.
To continue reading this article you must be a Bloomberg Professional Service Subscriber.
If you believe that you may have received this message in error please let us know.
- Fewest Jobless Claims Since 1973 Show Firm U.S. Job Market
- Nasdaq Drops on Tech Rout as Oil Falls, Gold Gains: Markets Wrap
- Greenwich Mansion Listings Pulled to Wait for a Better Day
- The U.K.'s $86 Billion Pension Problem Is About to Solve Itself
- Smartphones Are Killing Americans, But Nobody’s Counting