Quotes About Banking

When I trade, I don't have an agency problem; I have my neck on the line. When a bank or banker trades, it's not his neck on the line.

I believe that currency trading should not be a business at all.

What we prefer to do is operate our investment bank in a way that is like what investment banks used to be, which is a middle man - someone who is here to match people who need capital with people who have capital - and not position ourselves at the center of that by taking big positions on a trading stance.

'Prop trading' is just a fancy term for banks gambling in the market for their own profit.

Since JPMorgan Chase announced its surprise $2 billion-and-growing trading loss, there have been renewed calls from economists, pundits, and politicians to reinstate the Glass-Steagall Act, a Depression-era law that prevented commercial banks from participating in investment banking activities.

Proprietary trading does not belong in banks with FDIC insurance.

Those not favorable to the money trust could be squeezed out of business and the people frightened into demanding changes in the banking and currency laws which the Money Trust would frame.

You can't have bank holding companies acting as hedge funds. You can't have them taking a million-dollar pension plan for Joe Schmo the bus driver and treat it with the same risk appetite that you treat George Soros' pocket money. It's fundamentally ridiculous.

A bank hates to rush —it takes its time.

Likewise, investors were delighted to earn 11% on bank certificates of deposit (CDs) in 1980 and are bitterly disappointed to be earning only around 2% in 2003—even though they were losing money after inflation back then but are keeping up with inflation now.

Without banks, you would be burying your money in coffee cans in the back yard

Back in those less complicated times, there were lots of industries that operated more or less by rote: the old banker's motto, for instance, was "3-6-3": take money in at 3 percent, lend it out at 6 percent, and be on the golf course by 3 P.M.

If you don't have a functioning financial system the world economy won't be revived. All the major economies have their responsibility to assist at a pace which is required to clean up the balance sheet of the banking system and to ensure that credit flows are resumed.

Profits in business always depend on the rate of interest: the higher the interest, the higher the rate of profit required.

There is nothing left now for us but to get ever deeper and deeper into debt to the banking system in order to provide the increasing amounts of money the nation requires for its expansion and growth.

You have safety and soundness as primary purpose of the Federal Reserve, the OCC, and the other agencies which control banking regulation.

The Federal Reserve has the responsibility to protect the credit rights of consumers.

Fractional reserve banks are sitting ducks and are always subject to contraction. When the banks' state of inherent bankruptcy is discovered, for example, people will tend to cash in their deposits, and the contractionary, deflationary pressure could be severe.

All the Federal Reserve can do is make loans against collateral.

I worked in investment banking for two years. I was in a program where they kind of just owned you. And you - I didn't realize that I've signed up for that, which was one of the problems. I didn't know anybody who'd done this.

Given the extent of the exposures of major banks around the world to A.I.G., and in light of the extreme fragility of the system, there was a significant risk that A.I.G.'s failure could have sparked a global banking panic.

Deutsche Bank has a very simple problem. It doesn't make money.

When you learn that the bank you borrowed money from is actually owned by a drug cartel, should your first reaction be, "Well, we got a good interest rate"? The simple reality is that the Republican Party was in business with Russian intelligence efforts, what used to be known as the KGB, and precious few leading the Republican Party seem to give a damn.

In Indonesia, where I am from, the Dutch-imposed Civil Code dating back to the colonial 1870s prevailed until the 1974 Law on Marriage granted married women greater rights, including the ability to open individual bank accounts.