Banking Quotes - Page 14

• North Carolina is home to some of the largest financial institutions in the country, and a vibrant network of community banks. We're a banking state, and we're proud of that distinction. But we also understand that responsible financial regulation protects consumers and businesses.

  Kay Hagan

  Country, Home, Community

  "Don’t Filibuster Cordray" by Kay R. Hagan, www.huffingtonpost.com. December 8, 2011.

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• Lethargy bordering on sloth remains the cornerstone of our investment style. The exception was Wells Fargo, a superbly-managed, high-return banking operation in which we increased our ownership to just under 10%, the most we can own without the approval of the Federal Reserve Board.

  Warren Buffett

  Sloth, Style, Boards

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• Banking technology has made it simple and efficient to invest in good causes.

  Mark Skousen

  Technology, Simple, Causes

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• After graduating from college I worked at a variety of jobs, from banking to politics. I enjoyed whatever I was doing at the time but I didn't love my work.

  Joe Flanigan

  Jobs, College, Graduates

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• I often have said to people that there are really two cities in the country where the outlook is always forward-looking - there is never really a backward-looking tendency. My banking work has taken me out to Palo Alto, what is commonly called Silicon Valley. And you sense out there is always a forward-looking outlook. And New York City.

  Harold Ford, Jr.

  Country, New York, Taken

  Interview with Michael Barbaro, www.nytimes.com. January 12, 2010.

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

  Martin Mayer

  Cracks, Finance, Cocaine

  Martin Mayer (1990). “The Greatest-Ever Bank Robbery: The Collapse of the Savings and Loan Industry”, Scribner Book Company

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• The turn of the century was the age of the banker, so much so that the leading bankers of the day had become legendary figures in the public imagination-vast, overshadowing behemoths whose colossal power seemed to reach everywhere.

  Doris Kearns Goodwin

  Imagination, Age, Bankers

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• [T]he only good loan is one that gets paid back.

  Robert G. Wilmers

  Loan, Paid

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• Banks have never made money in the history of banking, losing the equivalent of all their past profits periodically - while bankers strike it rich.

  Nassim Nicholas Taleb

  Past, Bankers, Losing

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• Being a [bank] director is like being a pilot of an aircraft - it's years of boredom and seconds of terror.

  Moira Johnston

  Years, Boredom, Directors

  Moira Johnston (2000). “The Tumultuous History of the Bank of America”, p.49, Beard Books

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• Irrational lenders come and go - mostly they go!

  John G. Stumpf

  Irrational, Comes And Goes, Lenders

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• Banking is very good business if you don't do anything dumb.

  Warren Buffett

  Dumb, Good Business, Very Good

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• There's no doubt about it. Arcadia is Tom Stoppard's richest, most ravishing comedy to date, a play of wit, intellect, language, brio and, new for him, emotion. It's like a dream of levitation: you're instantaneously aloft, soaring, banking, doing loop-the-loops and then, when you think you're about to plummet to earth, swooping to a gentle touchdown of not easily described sweetness and sorrow.

  Vincent Canby

  Dream, Thinking, Play

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• 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.

  James Rickards

  Powerful, Fighting, Government

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• People of the United States of America, your Congress is bought, your Congress is incapable of making legislation on healthcare, banking, trade, or taxes because if they do it, they will lose their political funding and they won’t do it.

  Dylan Ratigan

  America, People, Political

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• Are there a lot of designers that matter? The industry hasn’t got a litmus test any more. The whole thing has imploded. Watch it die, like the banking industry

  Louise Wilson

  Watches, Tests, Matter

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• There's such a cynicism about the phrase 'I laughed all the way to the bank.' It's as though money is what you're doing, rather than playing music. If you're playing a money game, why not get into banking?

  Artie Shaw

  Games, Playing Music, Why Not

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• Yet another hedge fund manager explained Icelandic banking to me this way: you have a dog, and I have a cat. We agree that each is worth a billion dollars. You sell me the dog for a billion, and I sell you the cat for a billion. Now we are no longer pet owners but Icelandic banks, with a billion dollars in new assets.

  Michael Lewis

  Dog, Cat, Pet

  "Boomerang: Travels in the New Third World". Book by Michael Lewis, 2011.

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• There is a banking adage that if it's growing like a weed, it's a good chance that it's a weed.

  Mark Zandi

  Weed, Growing, Chance

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• You don't run a business hoping you don't have a recession.

  Jamie Dimon

  Running, Recessions

  "Jamie Dimon’s World" by Michael Martin, www.huffingtonpost.com. November 28, 2009.

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• Finally, in our progress toward a resumption of work we require two safeguards against a return of the evils of the old order: there must be a strict supervision of all banking and credits and investments; there must be an end to speculation with other people's money, and there must be provision for an adequate but sound currency.

  Franklin D. Roosevelt

  Order, Two, People

  First Inaugural Address, Delivered 4 March 1933

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• The banking business is no favorite of ours. When assets are twenty times equity - a common ratio in this industry - mistakes that involve only a small portion of assets can destroy a major portion of equity. And mistakes have been the rule rather than the exception at many major banks.

  Warren Buffett

  Mistake, Twenties, Ratios

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• The short-term international capital market is shrunken and erratic, and cannot be relied upon to cushion the effects of tendencies to disequilibrium in the balance of payments.

  Gunnar Myrdal

  Balance, Erratic, Tendencies

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• My agency in promoting the passage of the National Banking Act was the greatest mistake of my life. It has built up a monopoly which affects every interest in the country

  Salmon P. Chase

  Country, Mistake, Agency

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• In the simplest sense, the key to the performance of any traditional commercial bank ... is the profitability of the loans it makes.

  Robert G. Wilmers

  Keys, Commercial Banks, Loan

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