A Quote by Arthur Laffer
I mean, everyone agrees with stress tests for banks. I mean that's clear. But banks should do that on their own. And they should worry about their own capital functioning. That's what they should do. It shouldn't be a government function.
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Temporary nationalization of the banks that are in very bad shape would mean basically that the government is the temporary owner. I always believe that the government should focus on its comparative advantages, and banking is not one of them. It should, therefore, if it nationalizes banks, sell them back to the private sector.
We need the government to force the banks to write down all their bad assets now and then recapitalize themselves, preferably with private capital. Those banks that cannot raise sufficient capital should be seized and their deposits sold off.
Banks should decide on dividend increases and share buybacks after receiving the results of stress tests, when they know how much capital regulators wish them to hold.
The investment banks should either choose to be regulated as banks or should arrange to conduct their affairs to not require the stop-gap support of the Federal Reserve.
In our election manifesto is: we keep the right to create money and to bring in circulation, for the cause of the government ... Those who do not share this view, reply us to the issue of paper money is for the banks, the government should stay out of the banking business. I agree with Jefferson's opinion ... and just like him I say again: the issue of money is a matter for the government and the banks should stay out of government activity.
I admit that one should never underestimate the capacity of banks to destroy enormous amounts of accumulated capital and reduce, temporarily, the supply. After all, capital is the accumulated savings of mankind. And banks are great masters in destroying enormous amounts of capital with great regularity.
I think the market should reward banks that have been transparent in recognising their problems. I think the tendency of banks to hide the problem assets over a period of three or four years should not be allowed.
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.
Everyone should own a piece of the wealth-producing capital of this country, but not everyone can be a manager. Or should be.
Everyone has his own conscience,
and there should be no rules about
how a conscience should function.
We should tell more young designers not to worry about what they're going to do with their design careers. They should start their own brands. Designers should create their own beautiful brands that can change the world.
Christians should not be hostile, they should not hate, they should not judge, and they should not condemn. But they also must not shy away from real Truth and real Christianity. Just because so many have “itching ears” and “will accumulate for themselves teachers to suit their own passions” does not mean Christians should be willing to scratch that itch.
I think we should be worried about the fact that we have become, as a society, very focused on the way people look, the way they dress. I do think we should worry about that because we should be worried about content. We should be worried about ideas. We should not be putting form over function.
The Central Bank should have a permanent window for discounting high quality securities where banks could go and discount these. It gives peace of mind to the banks. In the absence of this facility, what banks tend to do is to keep a liquidity cushion for emergency requirements. This is a very expensive way of managing liquidity.
Were it left to me to decide whether we should have a government without newspapers, or newspapers without a government, I should not hesitate a moment to prefer the latter. But I should mean that every man should receive those papers and be capable of reading them.
Can you know you can have institutions that put curbs on that in various ways, and actually what the banks, you know, they have various capital ratios and that sort of thing, but the banks got around them, I mean, they set up sieves and that sort of thing just to get more leverage. People love leverage when it's working. I mean, it's so easy to borrow money from a guy at X and put it out at X.
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