In a similar vein he also attacks capital regimes and deposit-insurance schemes that require banks to raise equity and pay premiums when losses are high.
The bank is uniquely positioned as a lender to the venture capital industry with a strong deposit franchise.
Big depositors in the country's two biggest banks lost money and the island remains financially cut off from the rest of the euro zone because of capital controls intended to stop deposit flight.
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The vast expansion of Fed lending, Treasury capital injections into banks and Federal Deposit Insurance Corporation bank-debt guarantees are producing results.
The only question is whether Nicosia tries to stem the pace of deposit flight by imposing capital controls or whether the ECB allows the Central Bank of Cyprus to relax its collateral rules sufficiently to permit it to provide unlimited Emergency Liquidity Assistance to a recapitalized banking sector.
With the acquisition of ING Direct, Capital One has become the fifth largest consumer bank by deposit behind Bank of America, JPMorgan Chase, Citigroup and Wells Fargo.
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Before the creation of the FDIC, banks held as much as 25% capital against their assets, however with the creation of deposit insurance those ratios moved to approximately 6% and remained there until the recent crisis.
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They were asked to initially deposit 51.2bn rupees with India's capital markets regulator, the Securities and Exchange Board of India (SEBI).
In part that is because banks are keen to shed their fund-management arms, either because they need to raise capital or because they no longer see a business case for combining deposit-taking with portfolio management.
But this money, which is not protected by government deposit insurance, is secured only by the companies' own capital.
And what about Wells Fargo, which is among the top five banks and has doubled its deposit market share since the financial crisis but does not have significant capital markets exposure?
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On the surface this is an interesting debate, but capitalism is a system where capital is rewarded for its application, be it in industry or in a bank deposit account.
The case for toughening capital requirements is particularly strong for banks that are implicitly backed by taxpayers, whether through deposit insurance or because they are judged too big to fail.
As a former Treasury official told me, for banks such as Saigon National, there is no way they will ever have enough capital to get out of TARP, but they will have just enough to keep the Federal Deposit Insurance Corp. from failing them.
In addition, the Fed has taken unprecedented action to keep the cost of capital higher and the yield curve flatter by paying banks a small, but significant fee for reserves they deposit at the Fed.
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The increase in margins is supported by increase in premiums due to the implementation of the new variable annuity products and increase in fee income due to increases in average assets under management resulting from improvements in equity markets and increased deposit activity as equity market improvements created an environment where investors were willing to re-enter the capital markets.
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