Is Revolution and Reform the Same Thing?

They can’t be in banking. Reform in banking would simply impose what a group of lawmakers would deem “improvement.” Revolution in banking would mean a thorough cleansing of several practices in our industry. This “Mr. Clean” scrubbing would hit today's financial industry very hard, diminishing the bottom line for many banks for several years to come. Our nation’s larger banks rely heavily on “other” service charge income, specialty loan products and higher risk investments to beef up the “next quarter’s earnings.” Deviating from these practices would add dramatically to the already dismal returns and capital problems that many banks acrossread more...

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