Academic journal article ABA Banking Journal

If the Shoe Fits

Academic journal article ABA Banking Journal

If the Shoe Fits

Article excerpt

Over the summer the following item appeared in the newsletter CSBS EXAMINER, written by Ellen Lamb. It is reprinted here with the permission of the Conference of State Bank Supervisors.

In an interview published this week, Comptroller of the Currency Eugene Ludwig described his vision of the national bank regulatory system to an American Banker reporter:

"We are, you might say, sort of the Tiffany's or the Neiman Marcus of bank supervisors ... We have to add value. There will always be those who don't want to shop at Neiman Marcus or Tiffany's, and that's fine. It's a free country."

Attention K-mart shoppers!

We were sort of charmed by this analogy, actually--so much so that your faithful EXAMINER, intrepid as always, ventured out to the local Neiman Marcus to get a feel for the "OCC of department stores."

The local Neiman Marcus is very beautiful and grand--also sort of empty, on a Thursday afternoon. Undaunted, the EXAMINER forged ahead to the shoe section, where a sharp-looking pair of black leather pumps caught her eye. Black leather pumps being as necessary to the EXAMINER's professional life as her electronic calculator and her Wall Street Journal subscription, she checked the price: $350.

Very, very nice shoes. $225 nicer than the pair the EXAMINER already owns? …

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