Quotes About Banking

However, in spite of the general perception that monetary policy should be conducted so as to avert deflation, a central bank cannot lower interest rates below the zero lower bound.

Everyone has all the power of a bank branch in the palm of their hand. And so in that world of software at scale, theoretically the incremental unit cost of something at scale approaches zero.

In the end, the politics of the euro zone weren't strong enough to create a fully integrated fiscal union with a common banking system, etc.

My father spoke French with a Bank of Montreal accent.

I used to turn in, like, 20 money orders to pay my rent - $20 for this one, $30 for this one. I didn't have a checking account.

Our investment bank looks like it does because its customers like our expansive network and want to do equity, debt, M&A, custody, move money, deposit money, et cetera.

Public opinion always wants easy money, that is, low interest rates.

It is no coincidence that the century of total war coincided with the century of central banking.

We had to struggle with the old enemies of peace - business and financial monopoly, speculation, reckless banking, class antagonism, sectionalism, war profiteering

If you are worried about job security and do not have an adequate emergency fund (ideally eight months' worth of living expenses stashed away in a federally insured bank or credit union), you need to focus more on saving money than paying down the balance on your credit cards.

The chances of a bank going out of business are extremely slim, but it's always a good idea to spread around major sums so every penny is backed by insurance.

If I had known how hard it would be to do something new, particularly in the payments industry, I would never have started PayPal. That's why nobody with long experience in banking had done it. You needed to be naive enough to think that new things could be done.

Suckers think that you cure greed with money, addiction with substances, expert problems with experts, banking with bankers, economics with economists, and debt crises with debt spending

Note another element of Switzerland: it is perhaps the most successful country in history, yet it has traditionally had a very low level of university education compared to the rest of the rich nations. Its system, even in banking during my days, was based on apprenticeship models, nearly vocational rather than the theoretical ones. In other words, on techne (crafts and know how), not episteme (book knowledge, know what).

In the United States they have the implicit, never mentioned, promise to go work for a bank at a later date with a sinecure offering, say $5 million a year, if they are seen favorably by the industry.

lot. In addition to the behaviour that caused the crisis, major US and European banks have been caught assisting corporate fraud by Enron and others, laundering money for drug cartels and the Iranian military, aiding tax evasion, hiding the assets of corrupt dictators, colluding in order to fix prices, and committing many forms of financial fraud. The evidence is now overwhelming that over the last thirty years, the US financial sector has become a rogue industry.

Here is a statement of the obvious: banks with "state" in the name are chartered by the state; those with "national" in their name are chartered by the feds.)

Something really wacky happens when rice bankers start loaning out other people's capital: money is created.

When I get married, I'm gonna register at Bank of America.

I thought that ending Glass-Steagall was a mistake.

If you want to change the way your banking system is regulated, if you want to learn the mistakes of what's gone wrong, then you have to change your government.

A bank needs models to measure risk. The problem, however, is that any one bank can measure its risk, but it also has to know what the risk taken by other banks in the system happens to be at any particular moment.

Modern money is almost altogether credit money.

Bank failures are caused by depositors who don't deposit enough money to cover losses due to mismanagement.