A plaque remaining from the Big Apple Night Club at West 135th Street and Seventh Avenue in Harlem.

Above, a 1934 plaque from the Big Apple Night Club at West 135th Street and Seventh Avenue in Harlem. Discarded as trash in 2006.

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Entry from September 21, 2012
TBTF Consortium (Financial Services Roundtable nickname)

The Financial Services Roundtable is a lobbying group for big banks. In September 2012, the Zero Hedge blog wrote that the Financial Services Roundtable is also known as the “TBTF consortium.” “TBTF” stands for “too big to fail” banks.

The Financial Services Roundtable nicknames of “TBTF consortium” or “TBTF lobbying group” haven’t been frequently used, but the nicknames are accurate. However, Steve Bartlett, a President & CEO of the Financial Services Roundtable, told the House Financial Services Committee on October 21, 2008 that “there’s no such thing as too big to fail, from the perspective of the shareholders.”


Wikipedia: Financial Services Roundtable
The Financial Services Roundtable (FSR) is an American organization, located in Washington, D.C., formerly called the Bankers Roundtable, was formed in 2000. The FSR “represents 100 of the largest integrated financial services companies which provide banking, insurance and investment products and services to American consumers.” The members of FSR are the CEOs of the 100 largest financial services companies and six additional members representing each company. The Roundtable also has an official blog called Financing America’s Economy.

I Like Tuesday’s Political Econo-Monster
MONDAY, NOVEMBER 24, 2008
No Such Thing as TBTF
Steve Bartlett, President & CEO, Financial Services Roundtable, before the House Financial Services Committee 10/21/2008:

Well, first I would just submit that there’s no such thing as too big to fail, from the perspective of the shareholders. There are shareholders all over America that have failed.

The Baseline Scenario
Who Needs Big Banks?
Posted on October 12, 2009 by James Kwak
At a panel discussion at the Pew Charitable Trusts (captured for posterity by Planet Money), Alice Rivlin floated the idea of breaking up big banks. Luckily for us, Scott Talbott of the Financial Services Roundtable (a lobbying group for big banks) was there to slap that idea down.

Zero Hedge
Tim Pawlenty To Head TBTF Lobby Group
Submitted by Tyler Durden on 09/20/2012 09:46 -0400
GOP presidential candidate drop out Tim Pawlenty, who until recently was considered a top VP running mate candidate for Mitt Romney, has shown his true colors, and has become the head of the Financial Services Roundtable, a U.S. bank lobbying group that represents JP Morgan Chase & Co and Wells Fargo & Co , among other financial companies, the group said on Thursday. This is also known as the TBTF consortium.

Posted by Barry Popik
New York CityBanking/Finance/Insurance • (0) Comments • Friday, September 21, 2012 • Permalink