I remember adolescence, the years of having the impulse control of a mousetrap, of being as private as a safe-deposit box.
The primary rocks, ... I regard as the deposits of a period in which the earth's crust had sufficiently cooled down to permit the existence of a sea, with the necessary denuding agencies,-waves and currents,-and, in consequence, of deposition also; but in which the internal heat acted so near the surface, that whatever was deposited came, matter of course, to be metamorphosed into semi-plutonic forms, that retained only the stratification.
It wasn't all romantic. I didn't have a dorm room, so I slept on the floor in friends' rooms, I returned coke bottles for the 5¢ deposits to buy food with, and I would walk the 7 miles across town every Sunday night to get one good meal a week at the Hare Krishna temple. I loved it.
We do, then, most solemnly before God and the world declare that regardless of every consequence, at the risk of every distress, the arms we have been compelled to assume we will use with perseverance, exerting to their utmost energies all those powers which our Creator hath given us to preserve that liberty which he committed to us in sacred deposit and to protect from every hostile hand our lives and our properties.
A mother is a bank where I deposit all my worries and hurts
What happened was that for every $100 of money, by which I mean the cash that people keep in their pockets, and the deposits they have in the bank, for every $100 of money that there was in 1929, by 1933 there was only $67. The Federal Reserve allowed the quantity of money to decline by a third. While, at all times, it had the possibilities and the power of preventing that from happening.
The best way to look at any business is from the standpoint of the clients. So there are these certain basic things that aren't going to change. Companies are going to have needs for equity, debt, advice, FX, and derivatives. Individuals are going to have needs for auto loans, mortgages, something that looks like a deposit account, and the ability to send money to people. Those things aren't going to change.
When the secretary of treasury, the head of the central bank, the head of the FDIC (Federal Deposit Insurance Corp.), and the head of the New York Fed say, "We want you to do this because we think it's in the best interest of the United States of America," you know, we're like the Japanese. We're a little patriotic that way. We said, "Yes, sir!"
[People] have seen the credit market seize up. They're worried about money market funds, although the latest proposition from government should take care of that. They've seen eight percent of the bank deposits in the United States get moved very skillfully, I might say, within the last couple of weeks from institutions that they thought were fine a few months ago to other institutions. They are not wrong to be worried.
You've got the right - you've got a wonderful person with Sheila Bair, most of the viewers have never heard of Sheila Bair. [She] has taken eight percent of the deposits in the United States and seamlessly moved those over to sound institutions which in turn have gotten more capital, ended up, it's been a magnificent job.She'll never get a golden parachute or any severance pay or anything. She's done a great job. We've got some great public servants. We have I think the right people in there to get the job done, and then they need more tools.
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.
Countries compete in offering easy working conditions to their banks. In many jurisdictions, you can deposit money anonymously with no questions asked, even if the accepting bank knows that it derives from criminal activities.
Emotional discomfort, when accepted, rises, crests and falls in a series of waves. Each wave washes a part of us away and deposits treasures we never imagined. Out goes naivete, in comes wisdom; out goes anger, in comes discernment; out goes despair, in comes kindness. No one would call it easy, but the rhythm of emotional pain that we learn to tolerate is natural, constructive and expansive... The pain leaves you healthier than it found you.
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