Obama: Bank Regulators May Have Gotten Too Tough Published: Friday, 22 Jan 2010 | 3:38 PM ET AP
President Barack Obama said on Friday that regulatory oversight of the country's banks might now be erring too much on the side of caution, potentially hindering the flow of credit to small businesses.
"The banks feel as if regulators are looking over their shoulder, discouraging them from lending," Obama told a town-hall style meeting in Elyira, Ohio during a trip to promote his jobs and health care policies.
Obama said it was not his intention to interfere with bank supervision. But he had told Treasury Secretary Timothy Geithner to make sure that the country has not "seen the pendulum swing too far", with regulators now being too tough after being too slack in the past."
You've GOT to be friggen Kidding me! The man who's advocated a punitive bank tax, wants to restrict bank earnings from several sources, and wants banks to be limited in size, thinks it's the REGULATORS that are causing banks to be cautious about lending???
How about the banks sharing their CEO bonuses with the stockholders, by giving back the dividend payments. It's the greedy CEO's that are killing this for the people. The banks are making PLENTY of money. It's like feeling sorry for Mobil Oil. You are all missing the point. It's not politial, it's FINANCIAL, and the greedy bankers want it all.