Magazine article American Banker

Washington People

Magazine article American Banker

Washington People

Article excerpt

Off to a Good Start

It is that time again when, full of hope and optimism, folks make resolutions to guide us in the new year.

In the spirit of holiday giving, American Banker has crafted suggestions for some involved in the financial services sector.

Comptroller of the Currency John D. Hawke Jr.: Buy a leftover suit of armor from the "Lord of the Rings" movies on eBay, the better to prepare for a likely preemption battle with the 50 state attorneys general and some fire-breathing lawmakers.

The Conference of State Bank Supervisors and consumer groups: Build a time machine and bring back President Abraham Lincoln to help overturn Mr. Hawke's interpretation of the National Bank Act.

Freddie Mac's board: Avoid having to choose another chief executive this year.

Richard Syron, Freddie's new CEO: Make off-color jokes only in private conversations -- not in speeches to employees.

Franklin Raines, Fannie Mae's CEO: Convince the Office of Federal Housing Enterprise Oversight that Fannie has not engaged in the kind of accounting misdeeds that got Freddie into so much trouble.

OFHEO: Do not assure Congress of the government-sponsored enterprises' safety and soundness before all the facts are in.

Sen. Jim Bunning, R-Ky.: Learn the difference between Othello, Shakespeare's tragic general, and OFHEO, the unpoetic regulator.

Senate Banking Committee Chairman Richard Shelby, R.-Ala.: Overtake your panel colleague, Sen. …

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