Banking Quotes - page 6
I find odd the view that a Government institution is better placed to evaluate "the technical and financial viability" of a project than a commercial bank. It may well be that our banks are deficient in the kind of expertize required for assessing projects but then what we should be doing is encouraging banks to acquire such expertize or to make use of outside, commercial, expertize. I do not believe in any case that a Government machine can provide a reliable judgement on such matters, an opinion the banking members of the committee appear to have shared, for they have prudently refused to commit themselves to accepting its advice. I myself tend to mistrust the judgement of anyone not involved in the actual process of risktaking.
John James Cowperthwaite
Economists of the modern school will no doubt protest that I have said nothing of the use of budget deficits or surpluses for the control of the economy in general. I doubt if such techniques would ever be appropriate in Hong Kong's exposed economic position; and I think they are certainly not appropriate at present, when in strict orthodoxy they would suggest the need to plan for a very substantial surplus "to take the heat out of the economy". Although we have in fact run substantial surpluses in recent years we have not done so with deflationary effect because we have not removed them from the economy but have left them inside the Colony's banking system to continue to work for the economy. $500 million or 55% of reserves are so held at present.
John James Cowperthwaite
The system of banking have[for]ever reprobated. I contemplate it as a blot left in all our Constitutions, which, if not covered, will end in their destruction, which is already hit by the gamblers in corruption, and is sweeping away in its progress the fortunes and morals of our citizens.
Thomas Jefferson
Blue Labour has complete disrespect for the managerialism of New Labour and has much more honour for the workforce. If you talk about schooling, we'd like to see parents have a third of the power, teachers have a third of the power and the funders – whether it's the state or local authority – a third of the power, and negotiate a common good. New Labour sought managerial solutions in the private sector and that's what led to the banking collapse; they sought managerial solutions in the public sector which led to the erosion of the public ethos – so we will put people first, relationships first and that's a very different thing.
Maurice Glasman, Baron Glasman
The last thing I watched on telly with my mother, she died in very late 2008 in the middle of the financial crash, was Gordon Brown saying that it was the destiny of the Labour movement to save the global banking system. And that statement –‘the destiny of the Labour movement to save the global banking system'... I looked to my mum and the last movement she made, really, was to shake her head. You know, it may be the fate of the Labour movement but it can't be its destiny, that's just crazy. She just looked bewildered by that.
Maurice Glasman, Baron Glasman
Human beings today are surrounded by huge institutions we can never penetrate: the City, the banking system, political and advertising conglomerates, vast entertainment enterprises. They've made themselves user friendly, but they define the tastes to which we conform. They're rather subtle, subservient tyrants, but no less sinister for that.
J. G. Ballard
Austerity measures constitute retrogression in human rights, in contravention of articles 2 and 5 of the International Covenant on Economic, Social and Cultural Rights, imposed top-down and never legitimized by popular referendum. Moreover, the "bail-out” of the banking system was undemocratic and inequitable because a "private debt” was rescued through public money, namely, by increasing the public debt, at the expense of social justice. The general feeling of malaise was expressed in the statement that Governments seem to have adopted the elitist view that "banks are too big to fail and bankers too big to jail”, concern being expressed about the dangers of privatization of essential services, including water, and the widespread phenomenon of privatizing profit and socializing cost.
Alfred de Zayas
Every four years the naive half who vote are encouraged to believe that if we can elect a really nice man or woman President everything will be all right. But it won't be. Any individual who is able to raise $25 million to be considered presidential is not going to be much use to the people at large. He will represent oil, or aerospace, or banking, or whatever moneyed entities are paying for him. Certainly he will never represent the people of the country, and they know it. Hence, the sense of despair throughout the land as incomes fall, businesses fail and there is no redress.
Gore Vidal
The main thing that I learned about conspiracy theory, is that conspiracy theorists believe in a conspiracy because that is more comforting. The truth of the world is that it is actually chaotic. The truth is that it is not The Iluminati, or The Jewish Banking Conspiracy, or the Gray Alien Theory. The truth is far more frightening - Nobody is in control. The world is rudderless.
Alan Moore
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.
Janet Yellen
