BANC ONE CORPORATION: ASSET AND LIABILITY MANAGEMENT

[Derivatives are] simply another Wall Street-developed house of cards.
—Representative Joseph Kennedy 1
You can call it [the use of derivatives] whatever you want, but in my book it's gambling.
—Representative Henry Gonzalez, Chairman, House Banking Committee 2
Our use of derivatives is just one more step in the evolution of banking.
—John B. McCoy, Chairman and CEO, Banc One Corporation