A Quote by Adam Smith
Though the principles of the banking trade may appear somewhat abstruse, the practice is capable of being reduced to strict rules. To depart upon any occasion from those rules, is consequence of some flattering speculation of extraordinary gain, is almost always extremely dangerous, and frequently fatal to the banking company which attempts it.
Related Quotes
It is paltry philosophy if in the old-fashioned way one lays down rules and principles in total disregard of moral values . As soon as these appear one regards them as exceptions, which gives them a certain scientific status, and thus makes them into rules. Or again one may appeal to genius , which is above all rules; which amounts to admitting that rules are not only made for idiots , but are idiotic in themselves.
But this I know; the writer who possesses the creative gift owns something of which he is not always master--something that at times strangely wills and works for itself. He may lay down rules and devise principles, and to rules and principles it will perhaps for years lie in subjection; and then, haply without any warning of revolt, there comes a time when it will no longer consent.
Rules matter, and to be rules they need to be universal in form: always do this, never do that. But it is foolish to rule out in advance the possibility that an occasion might arise when normal rules just don't apply. Rules are not there to be broken, but sometimes break them we must.
It is extremely difficult for our contemporaries to conceive of the conditions of free banking because they take government interference with banking for granted and as necessary.
Moving from corporate banking to retail banking to international banking to supervisory roles has meant completely reinventing myself.
I'm not against banking. Banking allowed our modern society to happen, it is essential. It connects the work through finance, so banking is good.
They [political leaders ] thought the only problem was the banking system, and if they fixed the banking system, all would be fine. But the banking system and the mortgage problem were symptomatic of some deeper problems, and evidently they still haven't recognized those deeper problems.
There must be more rigorous enforcement of rules promoting transparency in the international banking and financial systems, especially more stringent KYC rules on customer identity, source of wealth, and even country of origin.
Innovation has stalled in the banking industry. While the rest of the world is in the digital age, banking remains stagnant. We are here to change this and bring banking to the 21st century. We will ensure our customers feel involved in the progress of this bank and are offering them a truly enjoyable banking experience – different from anything they have experienced before.
For remember that in general we don't use language according to strict rules-- it hasn't been taught to us by means of strict rules, either. We, in our discussions on the other hand, constantly compare language with a calculus preceding to exact rules.
Even though we have lost yardsticks by which to measure, and rules under which to subsume the particular, a being whose essence is a beginning may have enough of origin within himself to understand without preconceived categories and to judge without the set of customary rules which is morality.
Though colour may appear at first a part of painting merely mechanical, yet it still has its rules, and those grounded upon that presiding principle which regulates both the great and the little in the study of a painter.
In the U.S. more than any other place, the banking system is insane. Millions of Americans lost their houses. Because of what? Because of the banking system. This American banking system is also coming to Europe. We can say today that the banks and high financiers run the world.
Everybody knows the rules, even though some break those rules.
Rules? Ixion is supposed to be free of rules, yet it seems as strict as Grave in its own way and more...more dangerous.
The Chinese banking system is built on quicksand and that's the one thing a lot of people don't realize. Everybody seems to think it is a free and clear open checkbook. It's not. The banking system in China is extremely fragile.
Related Authors
Alan Greenspan Quotes
American
Economist
Benjamin Graham Quotes
American
Economist
Friedrich August von Hayek Quotes
Austrian
Economist
John Kenneth Galbraith Quotes
American
Economist
John Maynard Keynes Quotes
English
Economist
Joseph Stiglitz Quotes
American
Economist
Ludwig von Mises Quotes
Austrian
Economist
Milton Friedman Quotes
American
Economist
Muhammad Yunus Quotes
Bangladeshi
Economist
Murray Rothbard Quotes
American
Economist
Paul Craig Roberts Quotes
American
Economist
Paul Krugman Quotes
American
Economist
Richard Thaler Quotes
American
Economist
Robert Reich Quotes
American
Economist
Thomas Sowell Quotes
American
Economist
Walter E. Williams Quotes
American
Economist