Who will stand up for Wall Street on Capitol Hill? It probably won't be the head of one of the other big U.S. banks, most of whom are focused on fixing their own firms or repairing their reputations.
Brian Moynihan, Bank of America: He has struggled to contain losses from soured mortgages that have cost the lender, the second-largest in the U.S., more than $40 billion. The bank failed to win Fed approval in 2011 to increase the capital it can return to shareholders after telling investors dividends would climb.
Vikram Pandit, Citigroup: His firm's capital plan was rejected by the Fed in March. Shares of the New York-based lender, the third-biggest in the U.S., have tumbled 18 percent. Shareholders in May rejected Pandit's compensation plan, which included about $15 million for 2011 and a retention agreement that could be worth $40 million.
Lloyd Blankfein, Goldman Sachs: Blankfein retreated from making public comments in 2010 and 2011 as his company was sued by the SEC for its role selling subprime mortgage bonds, a case later settled for $550 million, and he testified before a Senate subcommittee. Blankfein recently began an effort to reshape his image with television interviews, an opinion piece in Politico and speaking engagements.
John Stumpf, Wells Fargo: He has the respect of his peers, and his San Francisco-based bank, the largest in the U.S. by market value, has posted annual profits for more than a decade. Still, he works far from Wall Street and is "allergic" to the role of industry statesman, said Nancy Bush, an analyst and contributing editor at SNL Financial, a research firm in Charlottesville, Va. "He's self-effacing, he's quiet as a manager, and his company is naturally quiet," Bush said. "It's not a role that will naturally fall to him, though I think it should."Source: Bloomberg News