Critics tend to talk about subsidies and look at Fannie and Freddie in isolation, forgetting that banks and thrifts are also subsidized, Kenneth Posner
Motivational, Inspirational, Funny Quotes
![[By going public and appointing a new board, with independent directors making up a majority, MasterCard may be trying to be viewed as more independent and to steer some potential litigation costs away from its member banks, said Kenneth Posner, an analyst with Morgan Stanley.] Payment associations have market power because they are owned and controlled by groups of banks, ... The public MasterCard would have independent directors and a governance system that would make it clear that it would not be attempting to collude in setting an interchange fee. - Kenneth Posner Quotes](/pic/img/img.php?text=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&author=ICBLZW5uZXRoIFBvc25lciAgICA=&num=4 "[By going public and appointing a new board, with independent directors making up a majority, MasterCard may be trying to be viewed as more independent and to steer some potential litigation costs away from its member banks, said Kenneth Posner, an analyst with Morgan Stanley.] Payment associations have market power because they are owned and controlled by groups of banks, ... The public MasterCard would have independent directors and a governance system that would make it clear that it would not be attempting to collude in setting an interchange fee. - Kenneth Posner Quotes")
