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It is well enough that people of the nation do not understand our banking and monetary system, for if they did, I believe there would be a revolution before tomorrow morning.
I saw a bank that said '24 Hour Banking', but I don't have that much time.
There's more honor in investment management than in investment banking.
Unemployment insurance, abolishing child labor, the 40-hour work week, collective bargaining, strong banking regulations, deposit insurance, and job programs that put millions of people to work were all described, in one way or another, as 'socialist.' Yet, these programs have become the fabric of our nation and the foundation of the middle class.
At its core, banking is not simply about profit, but about personal relationships.
The banking collapse was caused, more than anything, by bad government policy and the total failure of bad regulation, rather than by greed.
It is not by augmenting the capital of the country, but by rendering a greater part of that capital active and productive than would otherwise be so, that the most judicious operations of banking can increase the industry of the country.
It's Obama's bad luck that he got elected just as the mayhem of the foreclosures, the banking collapse, and the General Motors disaster was accelerating the surge in unemployment to warp speed.
Suppose a bad guy guesses the password for your throwaway Yahoo address. Now he goes to major banking and commerce sites and looks for an account registered to that email address. When he finds one, he clicks the 'forgot my password' button and a new one is sent - to your compromised email account. Now he's in a position to do you serious harm.
The Federal Reserve is not charged with designing or evaluating proposals for housing finance reform. But we are responsible for regulating and supervising banking institutions to ensure their safety and soundness, and more broadly for the stability of the financial system.
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I sincerely believe... that banking establishments are more dangerous than standing armies.
Mobile devices, high-speed data communication, and online commerce are creating expectations that convenient, secure, real-time payment and banking capabilities should be available whenever and wherever they are needed.
Our wise men flattered us into the adoption of the banking system under the idea that boundless wealth would result from the adoption.
I helped purify Nicaragua for the international banking house of Brown Brothers in 1909-1912. I brought light to the Dominican Republic for American sugar interests in 1916. In China I helped to see to it that Standard Oil went its way unmolested.
A higher IOER rate encourages banks to raise the interest rates they charge, putting upward pressure on market interest rates regardless of the level of reserves in the banking sector. While adjusting the IOER rate is an effective way to move market interest rates when reserves are plentiful, federal funds have generally traded below this rate.
A man who is without capital, and who, by prohibitions upon banking, is practically forbidden to hire any, is in a condition elevated but one degree above that of a chattel slave. He may live; but he can live only as the servant of others; compelled to perform such labor, and to perform it at such prices, as they may see fit to dictate.
We need to increase the transparency of shadow banking markets so that authorities can monitor for signs of excessive leverage and unstable maturity transformation outside regulated banks.
The middle class is teetering on the brink of collapse just as surely as AIG was in the fall of 2009 - only this time, it's not just one giant insurance company (and its banking counterparties) facing disaster, it's tens of millions of hardworking Americans who played by the rules.
I keep wondering at night, 'Will I have a bank the next morning, or will some technology company be doing banking without needing a bank?'
Banking, I would argue, is the most heavily regulated industry in the world. Regulations don't solve things. Supervision solves things.
The growth that we are targeting for our bank is in line with the banking industry.
Banking gives you a glimpse into what makes companies succeed and what makes companies fail.
In my generation, except for a few people who'd gone into banking or nursing or something like that, middle-class women didn't have careers. You were to marry and have children and be a nice mother. You didn't go out and do anything. I found that I got restless.
We've always been modestly leveraged, and we've never believed in a great deal of leverage on either our private equity business or on our investment banking business. And I think it really goes back to my uncle and dad growing up in the Depression and just seeing what happened to people who were overly levered.
Investment banking has, in recent years, resembled a casino, and the massive scale of gambling losses has dragged down traditional business and retail lending activities as banks try to rebuild their balance sheets. This was one aspect of modern financial liberalisation that had dire consequences.
Machines can do things cheaper and better. We're very used to that in banking, for example. ATM machines are better than tellers if you want a simple transaction. They're faster, they're less trouble, they're more reliable, so they put tellers out of work.
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