Quotes of the Month
"There may well be some market participants who want us to not comply with the statute, they may want to interpret it softly. But Congress really did say there’s got to be comprehensive regulation of the dealers, there’s got to be a mandate for clearing and there is a requirement for trading and real-time reporting"
Gary Gensler, chairman of the CFTC, insists he is doing Congress’s work
"When people hear ‘Agricultural’ they think of China’s 700 million farmers...I tell them it’s as if when we were born our parents gave us a girl’s name, so that we grew up with people thinking of us as a girl when in fact we are a boy"
Pan Gonsheng, senior executive vice president of Agricultural Bank of China, explains why the full name of ABC isn’t easy as one, two, three
"There’s a lot of talk about debt investors who will be prepared to take losses at higher levels in the capital structure. I would be very interested to meet one"
Douglas Flint, CFO of HSBC, questions the existence of an investor base for contingent capital
(see CFOs ride out the storm)
"Putin personally takes all key decisions, in line with his understanding of economics. Some decisions are taken that I don’t agree with"
Alexei Kudrin, Russia’s finance minister, on the battles over budgets at the heart of the Kremlin