Banking quotes
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It is not by augmenting the capital of the country, but by rendering a greater part of that capital active and productive than would otherwise be so, that the most judicious operations of banking can increase the industry of the country.
-- Adam Smith -
Indeed, better risk management may be the only truly necessary element of success in banking.
-- Alan Greenspan -
The main thing that I learned about conspiracy theory, is that conspiracy theorists believe in a conspiracy because that is more comforting. The truth of the world is that it is actually chaotic. The truth is that it is not The Iluminati, or The Jewish Banking Conspiracy, or the Gray Alien Theory. The truth is far more frightening - Nobody is in control. The world is rudderless.
-- Alan Moore -
Altough we all realize that monotony is boring, almost every form of industrial work- banking, accounting, mass-producing, service- is monotonous, and most people are paid for simply putting up with monotony
-- Alan Watts -
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... preliminary accounting, banking and surveying (known as arithmetic, algebra and geometry).
-- Alan Watts -
Is this complicated, risky [banking] system the best we can have?
-- Anat R. Admati -
The politics of banking is bad everywhere, including UK. Eurozone has more problems, unhealthy symbiosis.
-- Anat R. Admati -
Investment banks manage to go bankrupt through their investment-banking activities, commercial banks manage to go bankrupt through their commercial-banking activities.
-- Ben Bernanke -
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Among the largest banks, the capital ratios remain good and I don’t expect any serious problems . . . . among the large, internationally active banks that make up a very substantial part of our banking system.
-- Ben Bernanke -
It is not competition, but monopoly, that deprives labor of its product. Destroy the banking monopoly, establish freedom in finance, and down will go interest on money through the beneficent influence of competition. Capital will be set free, business will flourish, new enterprises will start, labor will be in demand, and gradually the wages of labor will rise to a level with its product.
-- Benjamin Tucker -
Anything that benefits the public and not just big banking, that's what I'm with.
-- Big Boi -
I don't think you can consistently be a winning trader if you're banking on being right more than 50 percent of the time. You have to figure out how to make money being right only 20 to 30 percent of the time.
-- Bill Lipschutz -
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Banks get in trouble for one reason: They make bad loans.
-- Carl Webb -
Bankers regard research as most dangerous a thing that makes banking hazardous due to the rapid changes it brings about in industry.
-- Charles Kettering -
My early work and publications centered around expanding on the analysis of life insurance in my dissertation and its relationship to investment banking.
-- Douglass North -
When you're in a commodity business, the only way to thrive is to be a low-cost producer. And when you're selling money, you're in a commodity business.
-- Duff McDonald -
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The goal [is] not only to earn high returns at the top of the cycle but also to avoid giving them back at the bottom.
-- Duff McDonald -
The increase in the assets of the Federal Reserve Banks from 143 Million dollars in 1913 to 45 Billion dollars in 1949 went directly to the private stockholders of the [Federal Reserve] banks.
-- Eustace Mullins -
The whole profit of the issuance of money has provided the capital of the great banking business as it exists today.
-- Frederick Soddy -
My innovation involved taking an idea from the telecommunications and banking industries, and applying that idea to transportation business.
-- Frederick W. Smith -
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A people... who are possessed of the spirit of commerce, who see and who will pursue their advantages may achieve almost anything.
-- George Washington -
The short-term international capital market is shrunken and erratic, and cannot be relied upon to cushion the effects of tendencies to disequilibrium in the balance of payments.
-- Gunnar Myrdal -
Sound money and free banking are not impossible; they are merely illegal.
-- Hans F. Sennholz -
Thus, our national circulating medium is now at the mercy of loan transactions of banks, which lend, not money, but promises to supply money they do not possess
-- Irving Fisher -
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No one has the right to not assume that the business cycle will turn! Every five years or so, you have got to assume that something bad will happen.
-- Jamie Dimon -
Don't do anything stupd. And don't waste money. Let everybody else waste money and do stupid things; then we'll buy them.
-- Jamie Dimon -
You don't run a business hoping you don't have a recession.
-- Jamie Dimon -
I would like to believe in an afterlife; it makes things more palatable. But I'm not banking on it.
-- Jarvis Cocker -
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There has been a banking crisis, a financial crisis, an economic crisis, a social crisis, a geostrategic crisis and an environmental crisis. That's considerable in a country that's used to being protected.
-- Jean-Francois Cope -
The Kaiser Wilhelm Institute's eugenics studies were initially endowed by Gustav Krupp von Bohlen und Halbach, the head of the Krupp munitions monolith, and James Loeb, of the Kuhn-Loeb banking family. Loeb's relatives, the Warburgs, were banking partners of William Rockefeller, and both families were responsible for setting up the American Harriman family - also movers and shakers in eugenics - in business.
-- Jim Keith -
After graduating from college I worked at a variety of jobs, from banking to politics. I enjoyed whatever I was doing at the time but I didn't love my work.
-- Joe Flanigan -
Irrational lenders come and go - mostly they go!
-- John G. Stumpf -
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If you owe your bank a hundred pounds, you have a problem. But if you owe a million, it has.
-- John Maynard Keynes -
Genealogy of American Finance is a treasure trove of information on American banking and its history, in an unusual -- and unusually useful -- format.
-- John Steele Gordon -
There's definitely evidence that capitalism at its most ruthless rewards psychopathic behavior. When you look at the worst corners of the American health insurance industry or the sub-prime banking market, it really feels like the more psychopathically someone behaves, the more it's rewarded.
-- Jon Ronson -
The collapse of the world's banking system and the impending disaster of accelerating climate change are not separate phenomena. They are simply the most visible symptoms of a particular model of capitalism that will bring civilisation to its knees. But those symptoms will not get sorted unless and until we commit to a radical transformation of the way we create and distribute wealth in the world today
-- Jonathon Porritt -
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Banking was conceived in iniquity and born in sin... Bankers own the Earth. Take it away from them but leave them the power to create money, and, with the flick of a pen, they will create enough money to buy it back again... Take this great power away from them and all the great fortunes like mine will disappear and they ought to disappear, for then this would be a better and happier world to live in... But, if you want to continue to be a slave of the bankers and pay the cost of your own slavery, then let the bankers continue to create money and control credit.
-- Josiah Stamp -
The modern banking system manufactures money out of nothing.
-- Josiah Stamp -
Banking was conceived in iniquity and born in sin.
-- Josiah Stamp -
The modern banking system manufactures money out of nothing. The process is perhaps the most astounding piece of sleight-of-hand that was ever invented.
-- Josiah Stamp -
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Whether or not you have good consumer protection has a big effect on safety and soundness of the banking community, especially smaller banks.
-- Judd Gregg -
Banks need to think through their ethics very carefully, and many have done so. I dont know any bank that dismisses the concept of ethical banking.
-- Justin Welby -
We dont have a good legal justification for breaking up the banking system. But if I could wave a magic wand, Id break up the banking system.
-- Kenneth C. Griffin -
We are inheriting the worst financial system since the Depression. We're inheriting a situation - when people go back and study major banking crises a quarter century from now, the one that America developed in 2007 and 2008 is going to be one of those crises
-- Lawrence Summers -
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Time and again we’ve seen that reducing poverty comes down to economic opportunity-not just connecting the poor to services like banking, but ensuring they can be producers on fair terms in the global economy.
-- Leila Janah -
Are there a lot of designers that matter? The industry hasn’t got a litmus test any more. The whole thing has imploded. Watch it die, like the banking industry
-- Louise Wilson -
It is extremely difficult for our contemporaries to conceive of the conditions of free banking because they take government interference with banking for granted and as necessary.
-- Ludwig von Mises -
To deprive mankind of their natural right and power of creating wealth for themselves, is as great a tyranny as it is to rob them of it after they have created it. And this is done by all laws against honest banking.
-- Lysander Spooner -
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I confidently predict the collapse of capitalism and the beginning of history. Something will go wrong in the machinery that converts money into money, the banking system will collapse totally, and we will be left having to barter to stay alive. Those who can dig in their garden will have a better chance than the rest. I'll be all right; I've got a few veg.
-- Margaret Drabble -
There is a banking adage that if it's growing like a weed, it's a good chance that it's a weed.
-- Mark Zandi -
Deposit insurance has proved to be the crack cocaine of American finance.
-- Martin Mayer -
Only put money in the banking system that you can afford to lose!
-- Max Keiser -
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Hollywood is a small, familial place. Everyone does business with everybody else. The same complications occur in investment banking.
-- Michael Ovitz -
The Cayman Islands, a British Crown colony in the Caribbean, for instance, is the fifth largest banking center in the world,
-- Michel Chossudovsky -
Being a [bank] director is like being a pilot of an aircraft - it's years of boredom and seconds of terror.
-- Moira Johnston -
Banking is a very treacherous business because you don't realize it is risky until it is too late. It is like calm waters that deliver huge storms.
-- Nassim Nicholas Taleb -
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Independently of its misdeeds, the mere power, - the bare existence of such a power, - is a thing irreconcilable with the nature and spirit of our institutions.
-- Nicholas Trist -
The banking collapse was caused, more than anything, by bad government policy and the total failure of bad regulation, rather than by greed.
-- Nigel Farage -
I do think that the banking system is now in the most perilous state we've seen in over 70 years.
-- Nigel Farage -
In banking or insurance trust is the only thing you have to sell.
-- Patrick Dixon -
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Implicit in the banking concept is the assumption of a dichotomy between human beings and the world: a person is merely in the world, not with the world or with others; the individual is spectator, not re-creator.
-- Paulo Freire -
And many of the people who buy or found banks have had no experience in banking at all. If they can learn it, so can we.
-- Penny Lernoux -
It can be argued that the U.S. brokerage and investment banking industry has transformed the modern American stock market into nothing more than a mechanism for transferring wealth from shareholders to management.
-- Peter Schiff -
Banks lend by creating credit. They create the means of payment out of nothing.
-- Ralph George Hawtrey -
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Money never declines. Money just moves.
-- Richard M. Kovacevich -
In the simplest sense, the key to the performance of any traditional commercial bank ... is the profitability of the loans it makes.
-- Robert G. Wilmers -
[T]he only good loan is one that gets paid back.
-- Robert G. Wilmers -
Banking gives you a glimpse into what makes companies succeed and what makes companies fail,
-- Sally Jewell -
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You can't control income. It varies based on conditions outside of [your] control. But you can control expenses.
-- Sanford I. Weill -
I particularly remember the time I gave (the research director) my paper on the banking industry. I felt very proud of my work. However, he read through it and said, 'This is useless. What makes the stock go up and down?' That comment acted as a spur. Thereafter, I focused my analysis on seeking to identify the factors that were strongly correlated to a stock's price movement as opposed to looking at all the fundamentals. Frankly, even today, many analysts still don't know what makes their particular stocks go up and down.
-- Stanley Druckenmiller -
I believe entertainers should know what's going on and do their own banking.
-- Stephanie Mills -
I saw a bank that said '24 Hour Banking,' but I don't have that much time.
-- Steven Wright -
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The advantage of online banking is that you can pay bills superfast, and your account is automatically credited or debited for each deposit and payment, making it easier to stay on track.
-- Suze Orman -
My father invested his money so securely in the banking business that he was never able to get any of it out again.
-- Thomas Bailey Aldrich -
The system of banking have[for]ever reprobated. I contemplate it as a blot left in all our Constitutions, which, if not covered, will end in their destruction, which is already hit by the gamblers in corruption, and is sweeping away in its progress the fortunes and morals of our citizens.
-- Thomas Jefferson -
Early in my investment-banking career, I realized I was on a path that others had set out for me.
-- Vikram Chatwal -
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There was, of course, a global financial crisis. But our Labour predecessors left Britain exceptionally vulnerable and damaged: more personal debt than any other major economy; a dangerously inflated property bubble; and a bloated banking sector behaving as masters, not the servants of the people.
-- Vince Cable -
Banking is a branch of the information business.
-- Walter Wriston -
Banking, I would argue, is the most heavily regulated industry in the world. Regulations don't solve things. Supervision solves things.
-- Wilbur Ross -
We all rely on technology to communicate, to survive, to do our banking, to shop, to get informed, but none of us knows how to read and write the code.
-- will.i.am -
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In the deregulated realm of US banking and finance, crime does occasionally pay for its foul deeds, not in prison time but by making modest rebates to the victims.
-- William Greider -
The money problem facing the country from 1789 to 1896 existed because Congress never exercised is authority to "coin money or regulate the value thereof" - but rather delegated that authority, sometimes by charter and sometimes by default, to the banking system. This despite the provision in the Constitution that charged Congress with the power to 'coin money, regulate the value thereof, and of foreign Coin, and fix the Standards of weight and Measures.'
-- William Jennings Bryan -
It's just very hard to teach a class of students about what has happened in the Global Financial Crisis, how we ended up there and how we got to where we are today, without having some basic, non-trivial understanding of the financial sector, credit, and the banking system.
-- Alan M. Taylor -
Always stay true to your nature. Anything that you are being hired for in any aspect of life whether it is a banking job, acting directing, whatever it is you have to stay true to who you are because they hired you to do what you do.
-- Anne Fletcher -
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The lifeblood of the economy is that the banking community is a circulatory system for American capitalism.
-- Anthony Scaramucci -
I only know one thing: Everything I learned about the banking business, I learned in the banking towers of the Societe.
-- Jerome Kerviel -
Food banking as well as other antihunger programs do a good job of managing poverty by alleviating its worst symptom, hunger.
-- Mark Winne -
Brokerage firms and their executives cannot use threats regarding research activities as a way to obtain investment banking business. The threat to drop research coverage if Piper were not selected as the lead underwriter for a secondary offering was totally inappropriate and undermines the integrity of the market.
-- Mary Schapiro -
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There are a lot of ways that investment banking models work, but these risks are not internalized by the people that are taking them.
-- Robert F. Engle -
If all bank loans were paid, there would not be a dollar of coin or currency in circulation. Someone has to borrow every dollar we have in circulation. We are absolutely without a permanent money system.
-- Robert W. Hemphill -
In the U.A.E. we were the least-regulated environment in the region, and over time we are seeing more and more regulation coming in. On the other hand, a central bank can overregulate and choke the economy, and then we will have a dead banking industry.
-- Abdul Aziz Al Ghurair -
In Africa it's difficult to carry the money, it's difficult to have a banking system with tellers, with distribution of cash. So they are using their mobile phones.
-- Maurice Levy -
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Of all the many ways of organising banking, the worst is the one we have today.
-- Mervyn King -
This crisis started probably due to the freedom they gave to the banks. First President [Ronald] Reagan and then President [Bill] Clinton. So, for [Barack] Obama it is extremely difficult to change now, to find a way to organize this banking system [differently].
-- Costa-Gavras -
Progress is cumulative in science and engineering, but cyclical in finance.
-- James Grant -
It is an axiom nowadays that no bank fails for lack of capital; unprofitable lending is always the underlying cause.
-- James Grant -
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[T]he first bad bank loan was no doubt made around the time of the opening of the first bank.
-- James Grant -
I doubt if there is any occupation which is more consistently and unfairly demeaned, degraded, denounced, and deplored than banking.
-- William Proxmire -
Time and again we’ve seen that reducing poverty comes down to economic opportunity-not just connecting the poor to services like banking, but ensuring they can be producers on fair terms in the global economy.
-- Leila Janah
