Quotes About Banking

One way to make sure you don't lose assets in the future is to streamline your accounts. Consider using one bank for all your banking needs and one brokerage firm for all your investments.

If you look at people who have an iPhone or Android and are under 40 and are dissatisfied with their bank, it's actually quite a large market.

My real adversary has no name, no face, no party. It will never be elected, yet it governs - the adversary is the world of finance.

At the time, BT wasn't yet known as the bank where—according to one infamous derivatives salesman—they "lure people into that calm and then just totally fuck 'em." To most of the world, this was still a secret. I had assumed that BT was in business to make as much money as it could. Had I known BT's approach to clients was to "totally fuck 'em," my favorable view of the bank might have changed. Perhaps it would have improved.

Most investment banking employees are rational economic actors who know that once they've received a bonus payment, they'll have to wait an entire year for another. If you were planning to leave a firm, you never stayed more than an hour or so past bonus time if you could help it.

This extra cushion of collateral became known as "overcollateralization." For example, if you started with $100 worth of Ajustabonos, the PLUS Notes would be repaid in full even the Ajustabonos dropped to $80 because Banamex ate the first $20 of losses.

while the firm sailed along cautiously, more aggressive banks—especially Salomon Brothers and Goldman, Sachs—began making more money. This was a serious problem for Morgan Stanley. In investment banking, cash conquers all. A bank's goal was to make money, not to preserve its chastity. If Morgan Stanley could outearn rivals by capitalizing on its stellar reputation, fine. But if less-reputed banks were generating more cash, Morgan Stanley was doing something wrong.

In IBD, young associates spent twenty-hour days preparing "books," the bound presentations senior bankers flipped through during meetings with corporate executives. You took a job there at your peril. After several years preparing these flip books, you either would be fired or promoted, assuming you still were alive. After several more years you would be allowed to carry the books to meetings, and at some point you might even be permitted to speak.

In the early 1920s, Lee Higginson was one of the most prestigious and profitable banks in the world – just behind J. P. Morgan but ahead of Goldman Sachs and Lehman Brothers. The firm's roots were in Boston, not New York, yet even as America's financial business shifted from State Street to Wall Street during the early twentieth century, Lee Higginson remained one of a handful of global "money banks.

We had to struggle with the old enemies of peace - business and financial monopoly, speculation, reckless banking, class antagonism, sectionalism, war profiteering. They had begun to consider the government of the United States as a mere appendage to their own affairs and we know now that a government by organized money is just as bad as a government by organized mob.

We had to struggle with the old enemies of peace—business and financial monopoly, speculation, reckless banking, class antagonism, sectionalism, war profiteering. They had begun to consider the Government of the United States as a mere appendage to their own affairs. We know now that government by organized money is just as dangerous as government by organized mob. --Franklin Delano Roosevelt, from a 1936 speech in New York City

However, the same old problem remained: relinquishing a cheque to her fetid bank account. It was like a bog. A cheque would be sucked down until the surface closed over and it looked no different from before. However, asking her sister for a postal order was one thing. Asking Joe for cash again was another. It didn't make her feel cheap; it just made her feel poor. And that decimated her self-esteem.

You can't fall back on the private sector and say, 'You take care of the nation's banking system.' That's a fundamental function of the government, the Federal Reserve, the Treasury and the FDIC, etc. All of those agencies have a major role to play there.

My old firm, Goldman Sachs - traditionally, the best banks are leveraged 8:1. When we had the financial crisis in 2008, the investment banks were leveraged 35:1. Those rules had specifically been changed by a guy named Hank Paulson. He was secretary of Treasury.

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.

Bitcoin is both disruptive from a technology perspective, but there's a tremendous power of social good behind it. So you can both build a cool business or have a great investment return, and there's the promise of potentially improving the remittance industry or banking the unbanked.

With a smartphone, we have a supercomputer in our pocket and are always connected. The way we bank is changing as part of this macro trend.

Solomon Loeb, at his wife's insistence, had come to New York from Cincinnati and, though not on a par with the Seligmans' operations, his Kuhn, Loeb & Company was becoming an important investment banking house. In Philadelphia the Guggenheims were not doing at all badly. Meyer Guggenheim had

Canadians know that the promise of a recession didn't happen because of anything we did here. If you look at all the causes of the recession, problems in mortgage markets, the problems in the banking sector, the problems in government finance in countries like Greece, none of those problems were in present Canada.

Banks can't recoup the costs of serving customers who save in small amounts and transact frequently.

The Finance Ministry will ensure regular assessment so that our announcements, especially those pertaining to the banking sector, are implemented in a time-bound manner. We are here to support small businesses and the industry at large.

Investment banking is not a business; it is a personal service where bankers work hand in hand with their clients. And it is a service that must not simply be about making bigger and bigger deals that reap rewards for only a small group of executives.

Whether or not you have good consumer protection has a big effect on safety and soundness of the banking community, especially smaller banks.

Let me talk about what the banks are doing, and I think the banks have been working to make sure that, as much as possible, we move the currency to the smaller areas and to as many set of customers as possible.