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.

Central banks are choosing to increase their gold holdings as a percentage of total reserves. They obviously think there is a reason to do that. It doesn't make sense to back up one currency with a hoard of other paper currencies. There needs to be a real anchor there. I think that central banks are well behind the curve. If you look at the percentage of above-ground gold controlled by central banks, it's historically low. Hence the fact that central banks are trying to increase their holdings. They've got a long way to go to get where they need to be.

Fannie Mae and Freddie Mac - two bloated and corrupt government-sponsored programs - contributed heavily to the crisis.In order to prevent another crisis, we need to do what we should have done years ago - reform Fannie Mae and Freddie Mac. We also need to repeal Dodd-Frank, the Democrats' failed solution. Under Dodd-Frank, 10 banks too big to fail have become five banks too big to fail. Thousands of community banks have gone out of business.

I passionately disagreed with Treasury Secretary Hank Paulson's plan to bail out the banks by using a public fund called the Troubled Asset Relief Program (TARP) to help banks take toxic assets off their balance sheets. I argued that it would be much better to put the money where the hole was and replenish the equity of the banks themselves.

Get out of debt. In a world of stagnant incomes and rising core expenses like mortgage and health care costs, that's a lot easier said than done. The middle class is under enormous pressure. But families can stop the bleeding by reducing their reliance on debt wherever they can. They can also start fighting back by taking a hard look at whom they do business with and rethinking whether they want tricks-and-traps banks to hold their money. They can also demand that public officials take the side of families over the side of banks.

The financial collapse of 2008 got its start with predatory mortgages, that weren’t sold by community banks and credit unions, they were sold by fly by night mortgage brokers who had almost zero federal oversight and then the big banks looked over, saw the profit potential and they wanted it bad. So they jumped in and sold millions of these terrible mortgages while the bank regulators just looked the other way.

I am persuaded that the people of the world have no grievances, one against the other. The hopes and desires of a man who tills the soil are about the same whether he lives on the banks of the Colorado or on the banks of the Danube.

If all the bank loans were paid, no one could have a bank deposit, and there would not be a dollar of coin or currency in circulation. This is a staggering thought. We are completely dependent on the commercial banks. Someone has to borrow every dollar we have in circulation, cash, or credit. If the banks create ample synthetic money we are prosperous; if not, we starve. We are absolutely without a permanent money system. When one gets a complete grasp of the picture, the tragic absurdity of our hopeless situation is almost incredible - but there it is.

What does reflect reality very well is complexity theory, which comes from physics. I'm the one pioneering the idea of bringing it to capital markets. When you look at capital markets through the lens of complexity theory, you ask "what's the scale of the system?" Scale is a fancy word for size. What measures are you using? If you look at total debt, the concentration of assets in the five largest banks, what percentage of the total assets of the five largest banks are interconnected? What you see is a very densely connected, fragile system that could collapse at any moment.

I suggested a compromise to give the banks a year's time and see if they succeed in showing us that nationalization wasn't necessary. The year went by and we realized it hadn't done any good, that the money still ended up in the hands of the rich industrialists or friends of the bankers. So I concluded that it was necessary to nationalize the banks. And we did. Without considering it a socialist gesture or an antisocialist gesture, just a necessary one. Anyone who nationalizes only so as to be considered on the left to me is a fool.

Do we want to be remembered as the generation that saved the banks and let the biosphere collapse?

Beside the two wars he inherited in Iraq and Afghanistan, and promised to end, a financial crisis at home had pushed the United States to the brink of another Great Depression. When we spoke with the new president in March of 2009, the economy was losing 800,000 jobs a month, the government was throwing hundreds of billions of dollars at failing banks, and the auto industry was on the verge of collapse. Politically pummeled from all sides, Obama did his best to keep a sense of humor.

I rob banks because that's where the money is.

Quantitatve easing is NOT going away. Every major country is running a deficit. If they are all net borrowers then who is the lender? The central banks. For this reason – QE is not going away for a long time.

Most banks - with Deutsche Bank at the top of the spectrum here - have decided that they can't make money lending to barrowers anymore, so they're going to the second business plan: They lend money to casino capitalists. That is, to people who want to gamble on derivatives.

O my Bergson, you are a magician, and your book is a marvel, a real wonder in the history of philosophy . . . In finishing it I found . . . such a flavor of persistent euphony, as of a rich river that never foamed or ran thin, but steadily and firmly proceeded with its banks full to the brim.

The question is how does Hilary Clinton fit in this broader network? She's a centralising cog. You've got a lot of different gears in operation from the big banks like Goldman Sachs and major elements of Wall Street, and Intelligence and people in the State Department and the Saudis.

Rush Limbaugh has answered - it's the rich liberals who own the banks and run the government, and of course run the media, and they don't care about you - they just want to give everything away to illegal immigrants and gays and communists and so on.

I stalk about her door, like a strange soul upon the Stygian banks staying for waftage.

Mathematically, debts grow exponentially at compound interest. Banks recycle the interest into new loans, so debts grow exponentially, faster than the economy can afford to pay.

The fundamental problem with banks is what it's always been: they're in the business of banking, and banking, whether plain vanilla or incredibly sophisticated, is inherently risky.

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

Every government, from the Obama administration right through to Angela Merkel, the Eurozone and the IMF, promise to save the banks, not the economy.

We let a river shower its banks with a spirit that invades the people living there, and we protect that river, knowing that without its blessings the people have no source of soul.

The essence of the contemporary monetary system is creation of money, out of nothing, by private banks’ often foolish lending.

Sometimes we get wrong notions, we think we have to be in a luxurious house, in a large city, with a new car in order to be happy. Happiness isn't there. Happiness isn't in a new car, it isn't in a new and luxurious apartment. Happiness isn't in banks and stocks. Happiness is where you make it, it's up to you. It comes from within, it doesn't come from things.

I believe that banking institutions are more dangerous to our liberties than standing armies. Already they have raised up a moneyed aristocracy that has set the Government at defiance. The issuing power should be taken from the banks and restored to the people to whom it properly belongs.

Reason and faith are both banks of the same river.

No life, my honest scholar, no life so happyand so pleasant as the life of a well-governed angler; for when the lawyer is swallowed up with business, and the statesman is preventing or contriving plots, then we sit on cowslip-banks, hear the birds sing, and possess ourselves in as much quietness as these silver streams, which we now see glide so quietly by us.

Everyone from Adam Smith, John Stewart Mill, they were all reforms. What they wanted to reform was getting rid of this parasitic landlord class that had conquered England in 1066 and it's the heirs of the military warlords who ended up taking the land and making everybody pay them and all of their descendants just for having been conquered. You can see the carry-over of this today. The rent that people have to pay, the money they have to pay the banks instead of having a public option. That's the price they still have to pay for being conquered.

The white spruce forest along the banks is most inspiring, magnificent here. Down the terraced slopes and right to the water's edge on the alluvial soil it stands in ranks.

OPEC production went from 30 million barrels a day to 33 million. They flooded the market, and it's lost them a lot of money. Look at the Saudis: they just floated a $17.5 billion debt offering, they earlier borrowed $10 billion from a group of international banks; they're selling part of Aramco - they're desperate for money.

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.

Banks should contribute to the real economy, make a positive contribution to economic growth.

At the moment we are facing a whole collection of difficult to forecast developments from the situation in China and the oil-price crash to the worrying news from some banks in Europe and the US. All of that is linked: Worldwide company debt is high and there is a lot of money in circulation. That is why necessary structural reforms are not being made.

Rockefeller and his associates did not build the Standard Oil Co. in the board rooms of Wall Street banks. They fought their way to control by rebate and drawback, bribe and blackmail, espionage and price cutting, by ruthless efficiency of organization.

The life in us is like the water in the river. It may rise this year higher than man has ever known it, and flood the parched uplands; even this may be the eventful year, which will drown out all our muskrats. It was not always dry land where we dwell. I see far inland the banks where the stream anciently washed, before science began to record its freshets.

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.

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.

The lack of monetary discipline has become a hallmark of unfettered globalization. Central banks have failed to provide a stable underpinning to world financial markets and to an increasingly asset-dependent global economy.

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

I don't agree with Bernie Sanders that the banks should be broken up at this point. But Hillary Clinton's acceptance of huge contributions from Goldman Sachs and others... And we don't debate what Clinton has done. She has a public record. She's been Secretary of State. She's basically a candidate of Wall Street, for Wall Street.

She is nine, beloved, as open-faced as the sky and as self-contained. I have watched her grow. As recently as three or four years ago, she had a young child's perfectly shallow receptiveness; she fitted into the world of time, it fitted into her, as thoughtlessly as sky fits its edges, or a river its banks. But as she has grown, her smile has widened with a touch of fear and her glance has taken on depth. Now she is aware of some of the losses you incur by being here--the extortionary rent you have to pay as long as you stay.

At the heart of banking is a suicidal strategy. Banks take money from the public or each other on call, skim it for their own reward and then lock the rest up in volatile, insecure and illiquid loans that at times they cannot redeem without public aid.

If you go back to the time of J.P. Morgan, the world of high finance was completely wholesale. The prestigious investment banks on Wall Street appealed exclusively to large corporations, governments, and to extremely wealthy individuals.

It would seem that emotions are the curse, not death-emotions that appear to have developed upon a few freaks as a special curse from Malevolence. All right then. It is our emotions that are amiss. We are freaks, the world is fine, and let us all go have lobotomies to restore us to a natural state. We can leave the library then, go back to the creek lobotomized, and live on its banks as untroubled as any muskrat or reed. You first.

To have some parts flowing free again . . . with deer grazing on its banks . . . ducks and geese raising their young in the backwaters . . . eddies and twists and turns for canoeists . . . and fishing opportunities such as Lewis and Clark enjoyed . . . would be the finest possible tribute to the men of the Expedition, and a priceless gift for our children.

I donate heavily to the church and various churches in the Detroit community and food banks.