Banking Quotes - Page 5

• 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

  Banking Crisis, America, People

  "Larry Summers on 'FOX News Sunday'". "FOX News Sunday" with Chris Wallace, www.foxnews.com. February 8, 2009.

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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

  Prison Time, Doe, Deeds

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• From blood banking to the modern subway, from jazz to social justice, the contributions of African Americans have shaped and molded and influenced our national culture and our national character.

  Bill Frist

  Character, Blood, Justice

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• To combat depression by a forced credit expansion is to attempt to cure the evil by the very means which brought it about; because we are suffering from a misdirection of production, we want to create further misdirection -- a procedure which can only lead to a much more severe crisis as soon as the credit expansion comes to an end.

  Friedrich August von Hayek

  Mean, Evil, Deception

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• The middle class is teetering on the brink of collapse just as surely as AIG was in the fall of 2009 - only this time, it's not just one giant insurance company (and its banking counterparties) facing disaster, it's tens of millions of hardworking Americans who played by the rules.

  Arianna Huffington

  Fall, Class, Giants

  Arianna Huffington (2010). “Third World America: How Our Politicians Are Abandoning the Middle Class and Betraying the American Dream”, p.5, Broadway Books

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• If I had quietly retired as governor in 2007 and went into banking or something of that nature, I would have been, at most, a footnote in the story and probably never mentioned.

  Mike Huckabee

  Stories, Footnotes, Retired

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• The art of banking is always to balance the risk of a run with the reward of a profit. The tantalizing factor in the equation is that riskier borrowers pay higher interest rates. Ultimate safety - a strongbox full of currency - would avail the banker nothing. Maximum risk - a portfolio of loans to prospective bankrupts at usurious interest rates - would invite disaster. A good banker safely and profitably treads the middle ground.

  James Grant

  Running, Art, Safety

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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

  Country, Banking Crisis, Environmental

  "Can Jean-François Copé save France from anti-Muslim extremism?" by Angelique Chrisafis, www.theguardian.com. March 24, 2011.

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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

  Garden, Alive, Chance

  The Guardian, January 2, 1993.

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• Much of the shadow banking sector, a major contributor to the economic crisis, was also only possible because of taxhaven secrecy.

  Vince Cable

  Shadow, Economic, Secrecy

  "The offensive secrecy of tax havens" by Vincent Cable, www.theguardian.com. September 23, 2009.

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• A banking system is an act of faith: it survives only for as long as people believe it will.

  Michael Lewis

  Believe, Long, People

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• Bankers are just like anybody else, only richer

  Ogden Nash

  Bankers, Funny Money

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• Though the principles of the banking trade may appear somewhat abstruse, the practice is capable of being reduced to strict rules. To depart upon any occasion from those rules, is consequence of some flattering speculation of extraordinary gain, is almost always extremely dangerous, and frequently fatal to the banking company which attempts it.

  Adam Smith

  Practice, Principles, May

  Adam Smith, Dugald Stewart (1843). “An Inquiry Into the Nature and Causes of the Wealth of Nations”, p.104

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• 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

  Winning, Thinking, Making Money

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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

  Giving, Goal, Return

  Duff McDonald (2009). “Last Man Standing: The Ascent of Jamie Dimon and JPMorgan Chase”, p.235, Simon and Schuster

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• 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

  Competition, Wages, Levels

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• The large banking interests were deeply interested in the World War because of the wide opportunities for large profits.

  William Jennings Bryan

  War, Opportunity, World

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• Every four years the naive half who vote are encouraged to believe that if we can elect a really nice man or woman President everything will be all right. But it won't be. Any individual who is able to raise $25 million to be considered presidential is not going to be much use to the people at large. He will represent oil, or aerospace, or banking, or whatever moneyed entities are paying for him. Certainly he will never represent the people of the country, and they know it. Hence, the sense of despair throughout the land as incomes fall, businesses fail and there is no redress.

  Gore Vidal

  Country, Nice, Fall

  Gore Vidal (2002). “The Last Empire: Essays 1992-2000”, p.416, Vintage

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• In banking or insurance trust is the only thing you have to sell.

  Patrick Dixon

  Sells

  "Futurewise". Book by David Perkins, 1998.

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• 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

  Integrity, Offering, Research

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• The Goldschmidts had joined forces with other Rothschild cousins, the Bischoffsheims, to form a banking partnership which financed the North in the American Civil War.

  David Icke

  Cousin, War, Rothschild

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• The smaller man approaching our modern banking system, which controls all issue of credit and therefore pretty well all our industrial and commercial activities, is not what the controllers of that credit call "interesting." He borrows with difficulty and upon high terms, and must pledge security out of all proportion to that which his richer rival has to put down.

  Hilaire Belloc

  Men, Issues, Interesting

  Hilaire Belloc (2016). “The Crisis Of Civilization”, p.101, TAN Books

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• I do think that the banking system is now in the most perilous state we've seen in over 70 years.

  Nigel Farage

  Thinking, Years, States

  "On the edge of social breakdown". UK Independence Party Website, May 31, 2012.

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• Food banking as well as other antihunger programs do a good job of managing poverty by alleviating its worst symptom, hunger.

  Mark Winne

  Jobs, Poverty, Hunger

  "Outlook: The Futility of Food Banks". Live chat, www.washingtonpost.com. November 19, 2007.

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• I can't tell Black people to fight a war that is Israel's war. What kind of leader will you be, or should I be, to allow these babies Black, white and brown, to fight Israel's war, because Zionists dominate the government of the United States of America and her banking system.

  Louis Farrakhan

  Baby, Religious, War

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