SALLIE KRAWCHECK: Banking Is So Complicated Now It Makes You 'Weep Blood Out Of Your Eyes'

sallie krawcheck

Sallie Krawcheck always knows how to get right to the point.

She’s at the Bloomberg Markets 50 conference right now on a panel with heavyweights like Dick Bove. The panel is called ‘Fixing Broken Banks.’

Bove argued that banks should be left alone. His case, essentially, was, look at their profits… they’re soaring.

Krawcheck wasn’t having that. 

Her point: Take a look at return on equity and the cost of capital. Moreover, protecting capital is incredibly hard. There are a ton of different kinds of capital to look at now, in part due to regulators who are “just fighting complexity with complexity.”

Think about it: Boards have to deal with everything from tier 1 capital to Basel 1 capital requirements… the list goes on and on.

It’s so complex, she said, “it makes you weep blood out of your eyes.”

Tell us how you really feel, Sallie.

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