Quotes About Banking

Daniel Tarullo has more power of the U.S. banking system than anybody since Alexander Hamilton. That's not an exaggeration, by the way.

Jamie Dimon is doing a great job; J.P. Morgan is a great institution.

J. P. Morgan. He was kind of a douche.

In truth, it's not the shareholders of the American International Group who benefited most from its bailout; they were mostly wiped out. The great beneficiaries have been the creditors and counterparties at the other end of A.I.G.'s derivatives deals - firms like Goldman Sachs, Merrill Lynch, Deutsche Bank, Societe Generale, Barclays and UBS.

not one private bank was opened in Dublin in the quarter century before 1793.

It's ironic that we can imagine the collapse of the Antarctic ice shelves more readily than we can the collapse of the banking system-and despite this, amazingly, as this book was written, the banking system did collapse.

Behind every cynical (or merely incompetent) banking executive and trader sits an economist, assuring them (and us) from a position of unchallenged intellectual authority that their actions are publicly useful and should in any case not be subject to collective oversight.

Beginning with a handful of outstanding intellectual refugees from interwar Europe, we pass through two generations of academic economists intent on re-configuring their discipline … and arrive at the banking, mortgage, private finance and hedge fund scandals of recent years.

Once I was in Victoria, and I saw a very large house. They told me it was a bank, and that the white men place their money there to be taken care of, and that by and by they got it back, with interest. We are Indians, and we have no such bank; but when we have plenty of money or blankets, we give them away to other chiefs and people, and by and by they return them, with interest, and our hearts feel good. Our way of giving is our bank. — Maquinna Nootka Chief

Depressed beyond what I'd previously thought possible, I stripped, showered, and slipped on a fresh pair of jeans and a tee shirt and headed for my mom's, trying to figure out why a bank would charge twenty dollars for insufficient funds when they know you don't have it.

Diamond and Dybvig argue that deposit insurance can prevent bank runs, but their model does not incorporate the fact that absent effective regulation, deposit insurance can induce banks to take excessive risk.6

regulate interest rates charged on bank loans.98

Negro banks, as a rule, have failed because the people, taught that their own pioneers in business cannot function in this sphere, withdrew their deposits.

The strongest bank in the United States will last only so long as the people will have sufficient confidence in it to keep their money there.

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.

the Institute of Applied Economic and Social Research at the University of Melbourne published the results of an extensive study of international money laundering.9 The authors compared the banking systems of two hundred countries. The Vatican ranked in the top ten money laundering havens, behind Luxembourg, Switzerland, the Cayman Islands, and Liechtenstein, but ahead of Singapore.

The Cyprus Financial Crisis was a devastating blow to Cypriots and halted their banking system. Banks closed for two weeks to prevent a banking panic. When they reopened, capital controls were placed on the people's money, and customers were met by armed guards at the branches.

Two-thirds of the world's population is unbanked or underbanked. Imagine if you had all your bank accounts shut down today, if you had all your credit cards shut off today, Paypal, Venmo, etc. What would life be like? And that's a problem that most of the world faces if you're in Latin America, Africa or South East Asia.

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

Maturity transformation is a central part of the economic function of banks and many other types of financial intermediaries.

I didn't fit the typical profile of a trader. I was an English major working on a novel at night. Most everyone else was a maths or economics major; most everyone else had relatives or family in banking.

The ultimate arbiters of the models of banking and the management of banking are the investors. It's the shareholders.

Bailouts may have been more tolerable in the early 1990s when they were rare and their use for a failing bank was uncertain. That is no longer the case.

The large banking interests were deeply interested in the World War because of the wide opportunities for large profits.