A Quote by Barney Frank
I am not aware of any specific provision that mandates any tightening of lending to small business other than a requirement that people who lend and then sell that loan be prepared to take a part of the risk. And I'm proud of that.
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In my own work, I have written about how our public sector bank officials avoid making any new lending decisions - because lending always exposes them to some (infinitesimal) risk of being blamed for the loan going wrong.
... thething I am proudest of in my whole business life is that I do not take, that I never took in all my life, and never, never! will take, one single penny more than 6% on any loan or any contract.
Never risk more than 1% of total account equity on any one trade. By risking 1%, I am indifferent to any individual trade. Keeping your risk small and constant is absolutely critical.
No one forces me, or any other writer, to sell a film option on the books. If you don't want to run the risk that the filmmakers may adapt your work in a way you don't like, then you don't sell the option. You know when you sell it that they will have to make some changes, just because film and TV are different media than books.
It is always sound business to take any obtainable net gain, at any cost, and at any risk to the rest of the community.
It is always sound business to take any obtainable net gain, at any cost and at any risk to the rest of the community.
Our approach on lending has always been that we will lend to India-linked assets, because that's the risk that we understand, and that is the business that has been doing very well.
I am very aware of my family name. I'm very aware of the legacy that that kind of carries with it. And I think that I didn't want to lose any kind of hold of that. And I think once you're born into something that you're proud of and that you're aware of, you don't take it lightly.
If two parties, instead of being a bank and an individual, were an individual and an individual, they could not inflate the circulating medium by a loan transaction, for the simple reason that the lender could not lend what he didn't have, as banks can do. Only commercial banks and trust companies can lend money that they manufacture by lending it.
We have been proud and thought we were better than any other race, any other people. Ladies and gentlemen, we are going to stumble into hell because of our pride.
Sometimes I decide not to make something because I am proud and think I am better than that - and then I realise I have to pay the rent and I have to take something which is even worse than all the other stuff they offer you because you were being so proud not to take it! But you adjust and sometimes for one reason or another there is no strategy at the end but there is the ability to do the best that you can with what you have.
I mean, casting gender non-conforming people in campaigns and editorials and on covers of magazines is a risk for any business because there's going to be controversy, but I think they need to take the risk and believe they're moving in the right direction.
I know that in many things I am not like others, but I do not know what I really am like. Man cannot compare himself with any other creature; he is not a monkey, not a cow, not a tree. I am a man. But what is it to be that? Like every other being, I am a splinter of the infinite deity, but I cannot contrast myself with any animal, any plant or any stone. Only a mythical being has a range greater than man's. How then can man form any definite opinions about himself?.
Fun is at the core of the way I like to do business and it has been key to everything I've done from the outset. More than any other element, fun is the secret of Virgin's success. I am aware that the ideas of business as being fun and creative goes right against the grain of convention, and it's certainly not how the they teach it at some of those business schools, where business means hard grind and lots of 'discounted cash flows' and net' present values'.
There's no difference in dealing with the music business with the majors than any other competition. The music business is way more cutthroat than any other business.
So that's the biggest lessonsI've learned it is your dream, you do not need a business loan, you do not need the support of others, you need to do what you need to do and when you become, what do I want to call the word, like legitimate, when people see that you are real, then people will support you, but you can't ask them to take a risk on you.
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