Banking Quotes - Page 8

• The Fed is pushing a variety of workarounds that would inject trillions in new money into the economy while bypassing the banking system altogether. Time will tell whether or not this will succeed. Meanwhile, a serious danger lurks around the corner. Once the recession is over, the lending will start again. With fractional-reserve banking and limitless supplies of cash on hand, we will likely see the overall price trends reversed, from deflation to inflation to possible hyperinflation.

  Llewellyn Rockwell

  Hands, Cash, Trends

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• It's my guess that something like 5% of GDP goes to money management and itsattendant friction. I define it broadly - annuities, incentive pay, all trading, etc. Nobody else has used figures that high, but that's my guess. Worst of all, the people doing this are among the best and the brightest. Hundreds and thousands of engineers, etc. are going into hedge funds and investment banking. That is not an intelligent allocation of the brainpower of the civilization.

  Charlie Munger

  Intelligent, Gdp, Civilization

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• It's natural that you'd have more brains going into money management. There are so many huge incomes in money management and investment banking - it's like ants to sugar. There are huge incentives for a man to take up money management as opposed to, say, physics, and it's a lot easier.

  Charlie Munger

  Men, Brain, Income

  Charlie Munger's comments on money managers at the 2001 Wesco Financial Annual Meeting, www.tilsonfunds.com. May 2, 2001.

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• Banking types should take their cue from Gordon Gekko. Or pick the best-looking banker in their firm and copy him.

  Tom Ford

  Bankers, Should, Type

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• Essentially, not only do we believe in this myth of 'de-risking', but it has become the one overriding goal; de-risking above growth, de-risking above innovation, de-risking above everything else. And we've reached the point where the Fed is using $70 Billion a month to 'de-risk' a largely insolvent banking system. And this can only end badly. The idea that you can do capitalism without risk is ridiculous on its face.

  Andreas Antonopoulos

  Believe, Ideas, Goal

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• It's important that the American people understand that President has proposed and passed this stimulus plan not as the end-all and be-all to our economic woes but as our bridge over troubled water until we get the finance system, the banking system working again.

  William J. Clinton

  Bridges, People, Water

  Source: www.foxnews.com

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• For a country, everything will be lost when the jobs of an economist and a banker become highly respected professions.

  Baron de Montesquieu

  Country, Jobs, Bankers

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• On the one hand, I loved being a banker. I loved how numbers could tell a story and how you can invest in ideas and see them translate into products and services and create jobs. What I didn't like, particularly where I was working in Brazil during the debt crisis of the early '80s, was how the poor were excluded from the banking system. I made the decision to try and experiment with whether we could use the tools of banking to extend the benefits of the economy to the poor.

  Jacqueline Novogratz

  Jobs, Hands, Ideas

  "The Marriage of Love & Power: Conversation w/ Jacqueline Novogratz of Acumen Fund". Interview with Gina Murdock, www.marandapleasantmedia.com. December 1, 2013.

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• 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

  Magic, Wave, Break

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• What kind of city are we living in, if we encourage the development or ownership of large, expensive properties for investment and land banking... while people are sleeping on the streets?

  Jeremy Corbyn

  Sleep, Land, Cities

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• You will find a way to make your message fresher. You'll find a way to make your connections in a way that will continue to inspire and direct and motivate. That's what I'm banking on.

  Pete Carroll

  Inspire, Connections, Way

  Source: bleacherreport.com

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• 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

  People, Realizing, Boring

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• My basic strategy is to stick to my core business, and to my area of expertise. My businesses are all related - retail, shopping centers, banking, real estate and tourism development. Together they create synergy.

  Henry Sy

  Real, Shopping, Together

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• 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

  Thinking, Needs, Done

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• To save the banks from making losses that would wipe out their net worth, you'll have to get rid of Social Security. It means that you'll essentially have to abolish government and turn it over to the banking system to run, with an idea that the role of governments is to extract income from the economy to pay to the bondholders and the banks.

  Michael Hudson

  Running, Mean, Loss

  Source: www.counterpunch.org

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• ... preliminary accounting, banking and surveying (known as arithmetic, algebra and geometry).

  Alan Watts

  Mathematics, Arithmetic, Algebra

  Alan Watts (2011). “In My Own Way: An Autobiography”, p.43, New World Library

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• Those truly committed to liberation must reject the banking concept in its entirety, adopting instead a concept of women and men as conscious beings and consciousness as consciousness intent upon the world.

  Paulo Freire

  Men, World, Consciousness

  Paulo Freire (2014). “Pedagogy of the Oppressed: 30th Anniversary Edition”, p.79, Bloomsbury Publishing USA

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• Whereas banking education anesthetizes and inhibits creative power, problem-posing education involves a constant unveiling of reality.  The former attempts to maintain the submersion of consciousness; the latter strives for the emergence of consciousness and critical intervention in reality.

  Paulo Freire

  Reality, Creative, Unveiling

  Paulo Freire (2014). “Pedagogy of the Oppressed: 30th Anniversary Edition”, p.58, Bloomsbury Publishing USA

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• So Merrill Lynch has launched its first campaign in years to advertise the accomplishments of its investment banking business. The ads feature things like Merrill's recapitalization of Sierra Pacific. I guess including "helping Enron achieve its earnings goals in 1999" might be a little awkward given that Merrill Lynch bankers are currently on trial in Houston for that "accomplishment."

  Bethany McLean

  Years, Accomplishment, Goal

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• We got a lot of excellent people and businesses from Bear and WaMu. But Bear definitely was more painful. WaMu got us into Florida, California, and other states, which was a huge benefit - to expand and grow and add middle-market, private banking, investment banking, and other products, too.

  Jamie Dimon

  Florida, California, People

  "Jamie Dimon on Finance: 'Who Owns the Future?'". Interview with John Micklethwait, www.bloomberg.com. March 1, 2016.

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• In the winter, things are dead and dull, but then there is an explosion of life. That's what He promises people who believe in His Son. That's what all the Robertsons are banking on.

  Si Robertson

  Believe, Son, Winter

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• Utility representatives will not show up at your door unannounced and will not ask for banking information in unsolicited phone calls. If you get a request for personal information that leaves you skeptical, contact my office and we can help determine if the call was legitimate.

  Mike Beebe

  Phones, Doors, Office

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• The weird thing is that Stuart's the one guy - Stuart [Immonen ]and Sean Gordon Murphy, they're the kind of guys you can trust, where you don't need to do that because those guys are so incredibly reliable. They're just like clockwork, they turn in the pages just so perfectly on time. But I'm so paranoid, because I've been burned so many times, that I'm still even banking these guys.

  Mark Millar

  Guy, Needs, Pages

  Source: www.ign.com

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• You're having government spending on the economy being cut almost everywhere. That means that the only source of spending for growth has to come from borrowing from the banking system.

  Michael Hudson

  Mean, Cutting, Government

  Source: www.counterpunch.org

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• The entire banking movement, at all crucial stages, was centralized in the hands of a few men who for years were linked, ideologically and personally, with one another.

  Gabriel Kolko

  Men, Hands, Years

  Gabriel Kolko (2008). “Triumph of Conservatism”, p.222, Simon and Schuster

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