Jul 22 2008
The Diane Rehm Show - The Banking Industry
Guests for the show:
Bert Ely, consultant, financial services industry
Kathleen Day, Center for Responsible Lending
James Leach, director, The Institute Of Politics At Harvard University’s John F. Kennedy School Of Government; Former U.S. Congressman from Iowa (1977-2007)
Robert Hartheimer, special advisor, Promontory Financial Group, former director of the Division of Resolutions at the FDIC 1991-1995
Quotes from the show:
“In fact, Fannie and Freddie bought 1 out of every 3 dollars of this garbage sub-prime stuff… Someone should have questioned that.”
- Kathleen Day, Center for Responsible Lending
“6 out of 10 people who got these bad loans would have qualified for a cheaper conventional loan…You can’t have a free market without a free flow of information.”
- Kathleen Day
“When you do collections of statistics, you can take different models and some leads to one set of answers and some leads to other set of answers. It’s like Mark Twain’s famous comment that there’s three kinds of lies. Lies, Damn Lies, and Statistics.”
- James Leach talking about the Consumer Price index for inflation
“We’re not going to have half the banks fail. That’s just not in the cards.”
- Bert Ely
The Diane Rehm Show Podcast, July 17, 2008
