Here are three points he makes that should not and cannot be ignored:
1. "There is no panic on Main Street and in sound financial institutions. The problems are in high risk financial institutions and on Wall Street"
2. "Protecting the banking system, which is fundamentally controlled by the Federal Reserve, is an established government function. It is completely unclear why the government needs to or should bail out insurance companies, investment banks, hedge funds, and foreign companies"
3. "Treasury is totally dominated by Wall Street investment bankers. They do not have knowledge of the commercial banking industry. Therefore they cannot be relied upon to objectively assess all the implications of government policy on all financial intermediaries."
John Allison doesn’t need a short selling ban in BBT. He’s getting the job done.