James McDermott Quotes

[With] the very small banks, this issue has sort of crept up on them in the last few months, and it's become abundantly clear that the resolution to this problem is extraordinarily expensive [and] time-consuming. And for banks that are looking over the horizon and seeing a possible sale in their future, they are questioning whether or not they want to push ahead with this.

- James McDermott

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[With] the very small banks, this issue has sort of crept up on them in the last few months, and it's become abundantly clear that the resolution to this problem is extraordinarily expensive [and] time-consuming. And for banks that are looking over the horizon and seeing a possible sale in their future, they are questioning whether or not they want to push ahead with this. - James McDermott

You have to be ... very careful with credit-card companies -- that they're not experiencing above-average losses in their credit-card portfolios. Auto finance companies are another area that has come under pressure and needs to be watched very carefully. - James McDermott