Elizabeth Warren is the chairman of the oversight committee on TARP and was on the Daily Show with Jon Stewart last night. She does a good job of looking at the banking crisis in a very concise and simple way.
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I don’t believe it’s news anymore when I tell you core system sales have tapered off in the past ten years. But here’s proof. In the year 2000, 7.3% of the FI population acquired a new core system. In 2009, the rate was approximately 2%. Going forward, it may stay at 2% or it may continue to decline, but it won’t increase.
Great to see a couple categories in there that RiskKey applies to although I’m a little concerned when Art, who I really enjoy reading, says that core systems have done a “superb job of keeping their core systems up-to-date.” What? Really?
If you mean up and running, ok, but really trying to address the real problems that core systems have in regards to knowing, protecting, and helping their customers I’d say NO.
- Brad
Senator Dodd seems to be considering dropping his committee’s plans to create a standalone Consumer Financial Protection Agency. But the focus will continue on strengthening regulations.
TBA Chairman-Elect Jeff Austin III to testify this morning at Subcommittee on Financial Institutions and Consumer Credit hearing TBA’s Chairman-Elect Jeff Austin III, vice chairman of Austin Bank, Jacksonville, will be testifying before Congress today at 9 a.m. (central) on “The Condition of Financial Institutions: Examining the Failure and Seizure of an American Bank.” Bankers can watch a live webcast of this Subcommittee on Financial Institutions and Consumer Credit hearing by clicking here or here.
Austin is in Washington, D.C., along with TBA President Eric Sandberg, TBA General Counsel John Heasley and the following bankers: Julie Cripe, Manny Galindo, Mark Long and Mary Ward. They have spent the week meeting with members of the Texas delegation, as well as Sen. Richard Shelby, ranking member on the Senate Banking Committee. They are armed with a letter signed by 526 bankers opposing the Consumer Financial Protection Agency. The letter is being hand-delivered to Sens. Kay Bailey Hutchison and John Cornyn.
It appears we are already making inroads in the Senate, as Senate Banking Committee Chairman Chris Dodd has indicated he may drop plans to create a stand-alone Consumer Financial Protection Agency, and, instead, focus on strengthening existing regulators.
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“Executives see savings in budget line items and value in a bill of services. IT sees savings in the things no one has to do anymore and value in the things no one could do before.”
This is a fantastic article illustrating the difficulties of IT Collaboration. Basically, mutual understanding is often lacking. IT looks like a customer service organization. Yet, the strategic success of the organization often hinges on IT’s ability to deliver. Part of the problem is that there is no “good” definition for IT. How do you measure IT performance? I have yet to see a good answer, and even those who would try cannot really provide an accurate unit of measure. The question becomes even more complicated in a regulated world. For instance, implementing ITIL and other frameworks helps you begin to understand what IT costs and what IT produces, but then leaves an organization prone to stagnation due to the bureaucracy involved in adhering to the framework.
How do you define and measure IT? Its a complicated and maturing answer for sure, and I would love to hear your thoughts.
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