Quotes About Banking

Well you stick the dynamite in the keyhole and you don't damage the safe, only sometimes you put a little too much in and blow the safe door up, but other times you're lucky and the safe just comes open. Thus the scion of a great banking dynasty learned how to rob a bank.

You still had to use the Balkanized, legacy banking system, which was built before the internet even existed, littered with middlemen and rent-seekers all along the way. And only if the central authorities of this network allowed it to happen, would your money move at a snail's pace from point A to point B.

Why would a strong bank pay the penalty rate if it didn't have to?

had helped make the Depression as terrible as it was.

and special interests, such as the banking and housing lobbies, have routinely blocked attempts to rationalize and improve the existing system.

did a poor job of measuring and managing the risks they were taking on.

By that point, of course, subprime lending had already virtually ended.

It seemed to me that the lack of credit after the collapse of the banking system had to have played a significant role in the slump as well.

the PDCF carried some stigma

We were always looking for people who could bring knowledge of community banking to the Board,

which restricts the flow of credit, which makes the downturn deeper and more protracted.

But at some point a strengthening economy and rising inflation pressures would presumably force us to raise short-term interest rates. It was possible to end up temporarily paying more interest on banks' reserves than we earned on the securities we held, which in turn might lead to several years in which we had little or no profits to remit to the Treasury.

the requirement also limited the interventions available to the Fed.

might result only in banking activity moving out of the United States to foreign financial centers.

He has been very resistant" to capital injection,

JPMorgan was unwilling on its own to stand behind it.

undertaken in conjunction with the Treasury and other bank regulators).

Our emergency liquidity lending took many novel forms.

letting Citi go was not an option.

by making it costly for them to refinance.

Formulating effective monetary policy requires timely information.

In the repo market, lenders were demanding more collateral for their loans, even when the collateral was of relatively high quality.

they were growing reluctant to lend,

What changed Dimon's mind about acquiring Bear?