Quotes About Banking

There are elements of Dodd-Frank that clearly need to be curtailed.

If you owe the bank $100, that's your problem. If you owe the bank $100 million, that's the bank's problem.

The first commercial banks appeared in the late 13th century in Italian towns like Siena. The word comes from banco – Italian for bench – since at first banking services were provided on benches at the town's centre. But banking does not begin with the Italian merchants – its origins lie with the Knights Templar, an order of warrior monks founded in 1096 to ensure the safe passage of European pilgrims heading to Jerusalem in the aftermath of the First Crusade.

Islam and Capitalism Capitalism continues to spread untouched by all this theorizing, and one of its biggest growth areas is Sharia banking (banking that conforms to Islamic law). Like the Bible, the Koran takes a dim view of charging interest.

The function of a financial system is to channel money from people who have it but want to save it to people who don't have it but want to spend it. ... In Ireland, as in most European countries, the banking system is the most important conduit for channelling money from savers to investors.

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

In banking, it was my responsibility to deliver investment opportunities and solutions to hedge fund clients, and at Bloomberg, it's my job to break down news that matters to our viewers and readers.

A dollar vigilante is a free market individual who protests the government monopoly and financial policies, such as fractional reserve banking and unbacked fiat currencies, by selling those same fiat currencies in favor of other assets, including gold and precious metals.

As a judge, I held people accountable when they did wrong. That's why I cracked down on violent criminals and stopped the big banks when they tried to kick families out of their homes.

Looking for a place to live at a time when landlords wouldn't rent to deaf people and setting up bank accounts when banks often required deaf people to get co-signees just for checking accounts wasn't going to be easy.

Montreal, boasted its share of piles, built by the Scottish robber barons, of railway, booze and banking money. They were held together with hubris, a short-term binder at best since many of them had long ago been torn down or donated to McGill University, which needed another Victorian monstrosity like it needed the Ebola virus.

There's a loss of faith in the banking system that for so long has been the backbone of prosperity and growth.

Inflationism is that monetary policy that seeks to increase the quantity of money.

the fundamental problem of the value of money.

Ludwig von Mises

On balance, the financial system subracts value from society

Pressed to identify useful financial innovations created during the past quarter-century, Paul A. Volcker, former Federal Reserve Chairman and recent chairman of President Obama's Economic Recovery Board, could single out only one: "The ATM.

By 2008, the entire banking and home mortgage lending industry had been corrupted by the left. It was hardly a commercial industry anymore; rather, it was a kind of progressive racket. And the racket came to an end when, first by the thousands, and eventually by the millions, the people who lacked the ability to pay back their loans stopped making their loan payments. This caused the panic of 2008, followed by the crash of 2008.

Back in August, I wrote a post about the supposed race to the bottom with ebooks, refuting some nonsense written by an establishment bonehead. This meme won't die. People are still convinced that new ebooks are going to be priced at ten cents, and writers will starve, and this will cause a second Great Depression where banks will close and people will be forced to buy Kindles with food stamps, and then the earth will enter another ice age where all the bunnies will freeze to death.

North of the Alps almost any Italians engaged in banking were indiscriminately called "Lombards," and Lombard Street was the center of the financial district of London.

Figure 1: The incidence of banking crises Source: Own calculations, based on the reported numbers of major bank failures in OECD economies, from Reinhart and Rogoff (2010)

Consumers view of you is not about how they compare you to other banks. It's about how they compare you to all of the other businesses they experience.

A banking system is an act of faith: it survives only for as long as people believe it will.

There's a loss of faith in the banking system that for so long has been the backbone of prosperity and growth.