Beth Mooney on oil and gas lending
From Beth Mooney on CNBC Mad Money 10/13/13 · · Decades of Creativity
“We get everything from the consumers and the homeowners who they're drilling on their land, leasing their land. You get the workers coming into it. I call it if you think of the Alaska pipeline, the workers actually moved there because the jobs are there. It brings in housing, it brings in ancillary services and not to mention that we are lending not only to the companies that are providing the drilling and the exploration but we're also very much supporting all the support businesses around it. It is a spillover effect and as you look at some of these areas that have the Shale and the natural gas, it's adding multiple points to the state's gross domestic economies.”
On , Beth Mooney, Former Chairman & Chief Executive Officer at KeyCorp, spoke about oil and gas lending during Beth Mooney on CNBC Mad Money 10/13/13 on Decades of Creativity.
About Beth Mooney
Beth Mooney, former Chairman and CEO of KeyCorp, was recognized with the Cleveland Foundation Women of Note Legacy Award in July 2017. In a tribute video for the award, Mooney described her early career, noting that after graduating from college in the mid-1970s she was frequently asked how fast she could type, which led to her first job as a bank secretary. She said that from that position she believed she could do more and made a series of moves between departments, eventually deciding in her late 30s that she wanted to become a CEO. Mooney stated that achieving that goal looked easier than it was and that she experienced a "dog caught the car" moment upon becoming CEO, accompanied by humility about the work required. In an October 2009 speech and Q&A as Vice Chair of KeyCorp, Mooney discussed the financial crisis and the Troubled Asset Relief Program (TARP). She said TARP "did what it was intended to do" in stabilizing the banking system and objected to the term "bailout," arguing that most TARP funds would be repaid with interest. Mooney described the Federal Reserve as "the unsung hero" for creating liquidity in frozen markets. She noted that bankers were "painted with a broad brush" and said the industry needed to rebuild trust by serving clients and communities. Mooney also called for re-regulation that would capture non-bank financial players, advocated for a systemic regulator, and stated that 25 percent of mortgage brokers in Ohio in 2006 had felony records. She expressed hope that healthcare reform would "get it mostly right" and that Cleveland institutions would have a voice in Washington.