A Quote by Andrew Ross Sorkin

Why do we have financial crises? Why do banks lose money? If history is any guide, it hasn't often been the result of speculative bets. It has been the result of banks making loans to individuals and businesses who can't pay them back.

Andrew Ross Sorkin

Quote Topics

Any Back Banks Been Bets Businesses Crises Financial Guide History Individuals Loans Lose Making Money Often Pay Result Speculative Them Why

Quote Author

Andrew Ross Sorkin
American - Journalist
Born: February 19, 1977

Banks hold deposits and savings entrusted to them by individuals, by businesses, by governments and by central banks. They put that money to work, helping people to buy homes, for example, or lending to businesses to invest in expansion.

Bob Diamond

Financial institutions have been merging into a smaller number of very large banks. Almost all banks are interrelated. So the financial ecology is swelling into gigantic, incestuous, bureaucratic banks-when one fails, they all fall. We have moved from a diversified ecology of small banks, with varied lending policies, to a more homogeneous framework of firms that all resemble one another. True, we now have fewer failures, but when they occur... I shiver at the thought.

Nassim Nicholas Taleb

Economically, ISIS is making money every day on the black market with their oil fields. But they are also putting money in banks. We know where those banks are. We should go after the banks and the facilitators using them.

Jack Keane

I'm all in favor of banks that play their part in community endeavors, private individuals looking for loans, people who want to start up a little business, and that's what banks are for.

Ian Anderson

It's wrong to rob banks, yeah, but is it right for banks to loan people money, knowing full well they can't pay it back?

Jeff Bridges

The ECB puts out money that is meant to help our banks, but they do not use it to finance our businesses, but they give it to them to buy back their debt, to help French and German banks.

Beppe Grillo

The subprime disaster was a result of financial bombs - derivatives - exploding in financial institutions such as AIG and Lehman Brothers, as well as banks and financial institutions throughout the world.

Robert Kiyosaki

Critics, often for good reason, are concerned that the Fed is wielding its vast powers in the interests of the banks and not in the interests of the people. After the financial crisis, Americans have perceived that the banks have been bailed out, but a significant proportion of the population is still in serious economic trouble.

Gerald Epstein

When the financial system works as it should, money and capital flow to and from households and businesses to pay for home loans, school loans, and investments to create jobs.

Henry Paulson

Commercial banks are very good for certain businesses, like loans and guarding other people's money. They're not great investors or entrepreneurs.

John Gutfreund

In the financial system we have today, with less risk concentrated in banks, the probability of systemic financial crises may be lower than in traditional bank-centered financial systems

Timothy Geithner

In the financial system we have today, with less risk concentrated in banks, the probability of systemic financial crises may be lower than in traditional bank-centered financial systems.

Timothy Geithner

But the good news, the crime rate is down. Isn't that amazing? Less banks are being robbed. Well, sure. A, there's less banks. B, the banks don't have any money left. And C, nobody's got gas money for the getaway car. So, right there, crime is down!

Jay Leno

The S.B.A. does not lend directly to businesses, but instead backs loans to encourage banks to invest in small businesses as part of a nearly $90 billion portfolio.

Karen Mills

One nation banking recognises that banks must not be isolated from the rest of the economy. Because banks and small businesses must succeed or fail together, banks must lend to small businesses so we can get the growth and jobs we need for the future. As things stand, that is not happening enough. Lending was down £10.8billion last year.