Quotes About Banking

The bank - the monster has to have profits all the time. It can't wait. It'll die. No, taxes go on. When the monster stops growing, it dies. It can't stay one size.

The bank - or the Company - needs - wants -insists - must have - as though the bank or the Company were a monster, with thought and feeling, which had ensnared them... The banks were machines and masters all at the same time... They breathe profits; they eat the interest on money. If they don't get it they die... It is a sad thing, but it is so. It is just so.

The bank is something else than men. It happens that every man in a bank hates what the bank does, and yet the bank does it. The bank is something more than men, I tell you. It's the monster. Men made it, but they can't control it.

We know that--all that. It's not us, it's the bank. A bank isn't like a man. Or an owner with fifty thousand acres, he isn't like a man either. That's the monster.

The bank is something else than men. It happens that every man in a bank hates what the bank does, and yet the bank does it. The bank is something more than men, I tell you. It's the monster. Men made it, but they can't control it.

It is well enough that people of the nation do not understand our banking and monetary system, for if they did, I believe there would be a revolution before tomorrow morning.

Deposit insurance has proved to be the crack cocaine of American finance.

Get into Investment Banking

You see, the way my bank account is set up...

What begins as a banking crisis ends with a banking crisis, even if it goes through the states' accounts.

Banking bubbles and busts cause sovereign debt crises.

Grumble as we might about Wall Street felons, we keep the banks in business by lending them our money, paying their interest on mortgages and credit cards, and amassing our savings in their IRAs and money-market accounts. Protest as we might about police killing unarmed black teenagers, white people have created segregated ghettoes by fleeing to "safe neighborhoods" where the public schools are good.

In the future the question will not be, "Are people credit-worthy", but rather, "Are banks people-worthy?"

Chase's was a junkie's banking strategy, shooting speed in the morning and spending all day foraging for the cash to dope down at night, an endless quest to chase the debt dragon.

This was Chase's second sweetheart deal in less than a year. Six months before, in March 2008, Chase had "rescued" the imploding investment banking giant Bear Stearns, buying the venerable firm with the aid of $29 billion in guarantees extended by the New York branch of the Federal Reserve—whose chairman of the board of directors at the time was, get this, JPMorgan Chase CEO Jamie Dimon.

After Clinton, just to get food stamps to buy potatoes and flour, you suddenly had to hand in a detailed financial history dating back years, submit to wholesale invasions of privacy, and give in to a range of humiliating conditions. Meanwhile banks in the 1990s were increasingly encouraged to lend and speculate without filling out any paperwork at all, and eventually borrowers were freed of the burden of even having to show proof of income when

finance was to become a public utility, situated in the public domain or at least alongside a public banking option. Instead, the past century's expansion of predatory credit has been reinforced by de-taxing interest, land rent, financial speculation, debt leveraging and "capital" (asset-price) gains.

The financial alternative to classical economics calls itself "neoliberalism," but it is the opposite of what the Enlightenment's original liberal reformers called themselves. Land rent has not ended up in government hands, and more and more public services have been privatized to squeeze out monopoly rent. Banks have gained control of government and their central banks to create money only to bail out creditor losses, not to finance public spending.

A return to classical bank policy would deem loans fraudulent and annul debts when creditors do not lend with any reasonable calculation of how the debt can be paid in the normal course of economic life. Loans made without such a calculation should be considered predatory. The natural check on such behavior is to permit mortgage debtors to walk away from their homes, free of the debts attached to them, letting title revert to the banks that over-lent.

since most countries undertook financial liberalisation in the 1970s and 1980s, there has been a marked increase in the frequency of banking crises (see Figure 1).10 Globally, in the period 1970 to 2007, the International Monetary Fund has recorded 124 systemic bank crises, 208 currency crises and 63 sovereign debt crises.11 For modern capitalism instability has become, not the exception, but a seemingly structural feature.

The note was paid in full on the due date and Starr never robbed their bank. In fact, none of the Phillips banks were ever robbed. A remarkable record, considering that for many years there was at least one bank robbery per day in Indian Territory. Frank bragged that he never lost a penny in dealing with oil operators or outlaws.

The Kushner family's desperate need for cash was turning U.S. foreign policy into an investment banking scheme dedicated to the refinancing of the Kushner family debt.

ALWAYS get a minimum of the two most recent bank statements for their checking account. This should show their income as deposits to support their reported income.

Today, if you look at financial systems around the globe, more than half the population of the world - out of six billion people, more than three billion - do not qualify to take out a loan from a bank. This is a shame.