A Quote by Bethany McLean
In capital we trust. Capital is our savior, our holy grail, our fountain of youth, or at least health, for banks.
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I have great, great confidence in our capital markets and in our financial institutions. Our financial institutions, banks and investment banks, are strong. Our capital markets are resilient. They're efficient. They're flexible.
What we are doing is, rather than living on the interest of our basic biological capital, we're using up our capital, so we're dipping into our capital. We're using up what should be our children's and grandchildren's legacy.
It's extremely important for our banks to have more capital, higher quality capital.
The financial doctrines so zealously followed by American companies might help optimize capital when it is scarce. But capital is abundant. If we are to see our economy really grow, we need to encourage migratory capital to become productive capital - capital invested for the long-term in empowering innovations.
Instead of isolating our school and our many subjects from the every day world, we intend to plant it not merely in the French capital, but in what for next summer at least will be the focal point, the capital of the entire civilized world.
Jerusalem has been our capital for 3,000 years and it's going to be our capital for eternity
We are paying teachers who are in charge of our human capital, arguably more important than our financial capital, a very tiny fraction of what Wall Streeters are paid.
We are now heading down a centuries-long path toward increasing the productivity of our natural capital - the resource systems upon which we depend to live - instead of our human capital.
It takes almost no capital to open a new See's candy store. We're drowning in capital of our own that has almost no cost. It would be crazy to franchise stores like some capital-starved pancake house. We like owning our own stores as a matter of quality control.
What we prefer to do is operate our investment bank in a way that is like what investment banks used to be, which is a middle man - someone who is here to match people who need capital with people who have capital - and not position ourselves at the center of that by taking big positions on a trading stance.
There's nothing more important than our good health - that's our principal capital asset.
Thus, the capital owner is not a parasite or a rentier but a worker - a capital worker. A distinction between labor work and capital work suggests the lines along which we could develop economic institutions capable of dealing with increasingly capital-intensive production, as our present institutions cannot.
It is no wonder that bank capital is regulated. When borrowing and lending is profitable, it is tempting for banks to scale up their operations and to borrow and lend too much in relation to their capital, in effect reducing the effectiveness of the potential capital cushion.
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.
When in Gregg v. Georgia the Supreme Court gave its seal of approval to capital punishment, this endorsement was premised on the promise that capital punishment would be administered with fairness and justice. Instead, the promise has become a cruel and empty mockery. If not remedied, the scandalous state of our present system of capital punishment will cast a pall of shame over our society for years to come. We cannot let it continue.
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.
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