Robert Kelly sounds like a big cry baby. It’s not our fault….boo hoo.
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“We need a lot fewer regulators,” Robert Kelly, the chief executive officer and chairman of Bank of New York Mellon Corp said at the 2009 Milken Institute Global Conference Monday.
But Kelly said the problem is that there are too many agencies watching. With regulators on a state and federal level there was overlap and confusion about who was responsible for what. That led to things falling through the cracks, he said.
On a national level, Kelly said the country needs one or two regulators who watch over the type of activities companies engage in.
For example, he said that insurance should be regulated on a national level not by 50 individual states.
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Sounds like Mr Kelly has it all figured out. Leave the banks alone and go after the insurance companies. Hmmmm and which one of the two are solvent Mr Kelly?
Watch closely, Congress will appoint him as some regulator over insurance. It just fits right in with our government to do something like that and listen to idiots like him.
Someone buy him a mirror!!
How many times do we have to listen to guys who really do not understand the insurance industry say it’s time for federal regulation? Any semi-famous finacial “wiz” gets instand press by grandstanding on the insurance-federal regulation soap box. He should try to understand his own world first. It’s not doing very well right now, is it?
Robert Kelly sounds like a big cry baby. It’s not our fault….boo hoo.
**************************************
“We need a lot fewer regulators,” Robert Kelly, the chief executive officer and chairman of Bank of New York Mellon Corp said at the 2009 Milken Institute Global Conference Monday.
But Kelly said the problem is that there are too many agencies watching. With regulators on a state and federal level there was overlap and confusion about who was responsible for what. That led to things falling through the cracks, he said.
On a national level, Kelly said the country needs one or two regulators who watch over the type of activities companies engage in.
For example, he said that insurance should be regulated on a national level not by 50 individual states.
****************************************
Sounds like Mr Kelly has it all figured out. Leave the banks alone and go after the insurance companies. Hmmmm and which one of the two are solvent Mr Kelly?
Watch closely, Congress will appoint him as some regulator over insurance. It just fits right in with our government to do something like that and listen to idiots like him.
Someone buy him a mirror!!
How many times do we have to listen to guys who really do not understand the insurance industry say it’s time for federal regulation? Any semi-famous finacial “wiz” gets instand press by grandstanding on the insurance-federal regulation soap box. He should try to understand his own world first. It’s not doing very well right now, is it?