Quotes About Banks

Financial institutions have been merging into a smaller number of very large banks. Almost all banks are interrelated. So the financial ecology is swelling into gigantic, incestuous, bureaucratic banks-when one fails, they all fall. We have moved from a diversified ecology of small banks, with varied lending policies, to a more homogeneous framework of firms that all resemble one another. True, we now have fewer failures, but when they occur... I shiver at the thought.

We [US government] have used our taxpayer dollars not only to subsidize these banks but also to subsidize the creditors of those banks and the equity holders in those banks. We could have talked about forcing those investors to take some serious hits on their risky dealings. The idea that taxpayer dollars go in first rather than last - after the equity has been used up - is shocking.

Before the 1970s, banks were banks. They did what banks were supposed to do in a state capitalist economy: they took unused funds from your bank account, for example, and transferred them to some potentially useful purpose like helping a family buy a home or send a kid to college.

Both in the US and throughout the world, there needs to be a growing presence of public development banks. These banks would make loans based on social welfare criteria - including advancing a full-employment, climate-stabilization agenda - as opposed to scouring the globe for the largest profit opportunities regardless of social costs.... Public development banks have always played a central role in supporting the successful economic development paths in the East Asian economies.

No business in the economy has the easy money that banks get to play with.... The existence of banks with single digit amounts of equity is a completely unhealthy existence -- that is not only a risk for the banks, but for all of us.

Banks are so protected from liability they would have to really do something that was their mistake in order for them to be liable for it. Banks don't look at signatures. They're processing millions of checks and they have very little liability.

Temporary nationalization of the banks that are in very bad shape would mean basically that the government is the temporary owner. I always believe that the government should focus on its comparative advantages, and banking is not one of them. It should, therefore, if it nationalizes banks, sell them back to the private sector.

Banks are run by executives, and executives protect themselves, and that does not always mean that banks are going to behave rationally.

Do you think Bernie Sanders, for example, is citing Theodore Roosevelt as the progenitor of his critique of the banks when actually Roosevelt wanted to keep the banks together and regulate them.

The policies that Hillary [Clinton] advocates are going to be more of the same, whether you're looking at her cozy relationships with the banks, her refusal to support Glass-Steagall, her vagueness about what actually she's going to do about the control of the big banks.

To save the banks from making losses that would wipe out their net worth, you'll have to get rid of Social Security. It means that you'll essentially have to abolish government and turn it over to the banking system to run, with an idea that the role of governments is to extract income from the economy to pay to the bondholders and the banks.

Now that rates are moving up, we're seeing more aggressive offerings from banks.

No one pushed harder than Congressman Barney Frank to force banks and other financial institutions to reduce their mortgage lending standards, in order to meet government-set goals for more home ownership. Those lower mortgage lending standards are at the heart of the increased riskiness of the mortgage market and of the collapse of Wall Street securities based on those risky mortgages.

My mother was being hounded by a debt collector over a debt that she didn't owe, and she eventually just paid it because she wanted the calls to stop. I was very surprised. It sounded so strange. I started poking around on the internet and found this was extremely common. There was this world where these debts were sold off by the banks for pennies on the dollar and bought and sold.

The typical fund company services 401k plan participants in the same way that Baby Face Nelson serviced banks.

Before 1980, it was basically illegal for U.S. banks to invent new products.

Where are the jobs going to come from?Small business, manufacturing and clean energy. Where's the money to finance them? The banks and the corporations in America today have lots of money that they can invest right now.

The works which this man [Joseph Banks] leaves behind him occupy a few pages only; their importance is not greatly superior to their extent; and yet his name will shine out with lustre in the history of the sciences.

I have ever been opposed to banks, - opposed to internal improvements by the general government, - opposed to distribution of public lands among the states, - opposed to taking the power from the hands of the people, - opposed to special monopolies, - opposed to a protective tariff, - opposed to a latitudinal construction of the constitution, - opposed to slavery agitation and disunion. This is my democracy. Point to a single act of my public career not in keeping with these principles.

Each day of our lives we make deposits in the memory banks of our children.

When you own gold you're fighting every central bank in the world. That's because gold is a currency that competes with government currencies and has a powerful influence on interest rates and the price of government bonds. And that's why central banks long have tried to suppress the price of gold. Gold is the ticket out of the central banking system, the escape from coercive central bank and government power.

Life can be lived at a remove. You trade in futures, and then you trade in derivatives of futures. Banks make more money trading derivatives than they do trading actual commodities.

Capital market liberalization includes freeing up deposit and lending rates, opening up the market to foreign banks, and removing restrictions on capital account transactions and bank lending. The focus is on deregulation, not on finding the right regulatory structure.

Some people want to be bank presidents. Other people want to rob banks.

One day, because they realize for some reason or other that they must stop credit expansion, the banks do stop creating new credit to lend. Then the firms that have expanded cannot get credit to pay for the factors of production necessary for the completion of the investment projects which they have already committed themselves. Because they cannot pay their bills, they sell off their inventories cheap. Then comes the panic, the breakdown. And the depression starts.

Big banks churn out page after page of incomprehensible fine print to obscure the cost and risks of checking accounts, credit cards, mortgages and other financial products. The result is that consumers can't make direct product comparisons, markets aren't competitive, and costs are higher. If the playing field is leveled and the broken market fixed, a lot more money will stay in the pockets of millions of hard-working families. That's real stimulus - money to families, without increasing our national debt.

Every Republican’s voted for it. Look at what they value and look at their budget and what they’re proposing. Romney wants to let the – he said in the first 100 days he’s going to let the big banks once again write their own rules – unchain Wall Street. They’re gonna put you all back in chains.

If there is one common theme to the vast range of crises...it is that excessive debt accumulation, whether it be by the government, banks, corporations, or consumers, often poses greater systemic risks than it seems during a boom.

Credit cards have been extremely profitable to banks. They're profitable not from the fees they collect from the retailers that use the credit cards, that pays the bills, but the real profits come from the interest payments and the charges to users that are unexpected.

This is very dangerous for us, as a society, and I think people deserve a politics of integrity that is not bought and paid for by big banks, fossil fuel giants, war profiteers, insurance companies, the things that those two corporate parties both represent and which pull the strings inside the party.

I think changing the Democratic Party platform [at the convention] is a great place to start. It should include expanding Social Security, a $15 minimum wage, and breaking up too-big-to-fail banks on Wall Street - among other Sanders priorities.

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

Seine et Danube was launched in 2003 with the help of Romanian authorities who had finally realized the necessity of promoting literature and Romanian culture in general. Along with focusing on the literature of the countries the Danube traversed (with an emphasis on Romania), we printed work that interested us from the banks of the Seine: French and French-Romanian authors like Cioran and Fondane. We dedicated our last edition to surrealism and Esthetic Onirisme.

If information is the currency of democracy, then libraries are its banks.

Have a goal in life. When water is everywhere, it is a flood, but if it is in between banks, it is a river. It is nice to have a goal, so your life force gets channelized!

I've always believed that a speculative bubble need not lead to a recession, as long as interest rates are cut quickly enough to stimulate alternative investments. But I had to face the fact that speculative bubbles usually are followed by recessions. My excuse has been that this was because the policy makers moved too slowly - that central banks were typically too slow to cut interest rates in the face of a burst bubble, giving the downturn time to build up a lot of momentum.

As a chef, I had started working with groups like Share Our Strength and various local food banks in New York, raising money for hunger-related issues. And not only me, but the entire restaurant industry has been very focused on this issue.

Church wealth are moving into everything-gas stations, banks, television stations, supermarket chains, hotels, steel mills, resort areas, farms, wine factories, warehouses, bottling works, printing plants, schools, theaters-everything you could conceivably think of that has nothing to do with religion, they are moving into big. They're even coming in as stockholders in the big oil companies, and the Bank of America is almost entirely owned by the Catholic Church.

Over the last 30 odd years, Democrats have moved to the right and the right has moved into the mental hospital. So what we have is one perfectly good party for hedge fund managers, credit card companies, banks, defense contractors, big agriculture and the pharmaceutical lobby... That's the Democrats. And they sit across the aisle from a small group of religious lunatics, flat-earthers and civil war re-enactors who mostly communicate by AM radio and call themselves the Republicans and who actually worry that Obama is a socialist. Socialist? He's not even a liberal.

Toronto won't topple New York or London as a financial center, nor will it dethrone Los Angeles as the international entertainment capital, but with its large and stable banks, numerous knowledge-based industries thriving in the surrounding mega-regions, and an increasingly diverse population, it will gain ground. And with employment opportunities in the largest centers eroding, it can make a big move on top global talent. It stands as a model of an older, once heavily industrial Frostbelt city that has not only turned itself around but continues to grow and thrive.

President Obama has a good sense not just of the economic requisites for financial crisis firefighting but also how you build political support for moving forward on reforming the financial system, making sure that the banks are carrying enough capital.

Money is not a factor of production. But in order to have access to credit, in order to get money, in order to get an education, you have to pay the banks.

Let the river roll which way it will, cities will rise on its banks.

In 1977, when I started my first job at the Federal Reserve Board as a staff economist in the Division of International Finance, it was an article of faith in central banking that secrecy about monetary policy decisions was the best policy: Central banks, as a rule, did not discuss these decisions, let alone their future policy intentions.

Nobody had a credit card when I was a kid. No one had credit card debt. But these big companies and banks wanted to know how to get more money out of people - get them charging things.

I jump out of the boat [in The Lost World], and I'm trying to swim to the kid, and my boots fill with water, and I start to drown, and the director has no idea why I'm flailing around. He's, "Come on, come on!" And I managed to rescue myself. I'm wet and sitting on the banks of the river, and John walks over to me and says, "Are you all right, dear boy?" "Yeah, I'm all right."

I love jazz because it's so American; you know it's our Only Original Art Form. It just goes against the greed of corporate America and the Wall Street Banks that are destroying our economy.

I deposit in many banks including the bank of wisdom. The more I draw on my accounts, no matter how big the sum, the bigger my balance becomes