A Quote by Bob Diamond
Is it okay for a U.S. bank to pay a U.S. banker but not a U.K. bank to pay a U.S. banker?
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Discretion is the most important thing for a banker. That is the philosophy of the family... I mean, of the bank.
If there was a payment to the bank due, and we needed shoes, she'd get the shoes, and then deal with them guys at the bank. I don't mean she wouldn't pay the bank, but the children always came first.
There is a strange idea aboard, held by all monetary cranks, that credit is something a banker gives to a man. Credit, on the contrary, is something a man already has. He has it, perhaps, because he already has marketable assets of a greater cash value than the loan for which he is asking. Or he has it because his character and past record have earned it. He brings it into the bank with him. That is why the banker makes him the loan.
I didn't join a bank because my father worked in a bank or because I thought I was going to be a banker or because I thought I was going to be where I am today.
People always try to put a title or a symbol on you. If you work in a bank, you are a banker. For me, they see a co-founder of Facebook.
What we've done last night is what I call pushing back the risks..If there is a risk in a bank, our first question should be 'Okay, what are you in the bank going to do about that? What can you do to recapitalise yourself? If the bank can't do it, then we'll talk to the shareholders and the bondholders, we'll ask them to contribute in recapitalising the bank, and if necessary the uninsured deposit holders.
Reality is a state of mind. To the banker, the money in his ledger book is all very real, though he doesn't actually see it or touch it. But to the Brahma, it simply doesn't exist the way the air and the earth, pain and loss do. To him, the banker's reality is folly. To the banker, the Brahma's ideas are as inconsequential as dust.
The art of banking is always to balance the risk of a run with the reward of a profit. The tantalizing factor in the equation is that riskier borrowers pay higher interest rates. Ultimate safety - a strongbox full of currency - would avail the banker nothing. Maximum risk - a portfolio of loans to prospective bankrupts at usurious interest rates - would invite disaster. A good banker safely and profitably treads the middle ground.
I don't have any particular expertise-I've never been a banker or an investment banker. But I did see an evolution in the system that I thought was problematic.
I was an accidental banker. To please my parents, I went for an interview with Chase Manhattan Bank in 1983. They promised to send me into their offices in more than 40 countries and essentially audit the practices. It was an extraordinary job.
The kind of money that show business will pay you, unless you need to have shoes made of diamonds, you can actually put it in the bank and sort of be okay.
The prairies were dust. Day after day, summer after summer, the scorching winds blew the dust and the sun was brassy in a yellow sky. Crop after crop failed. Again and again the barren land must be mortgaged for taxes and food and next year's seed. The agony of hope ended when there was not harvest and no more credit, no money to pay interest and taxes; the banker took the land. Then the bank failed.
When I trade, I don't have an agency problem; I have my neck on the line. When a bank or banker trades, it's not his neck on the line.
I studied all about Gauguin. He was a banker. He was a banker who - he used to paint on Sundays. And one day he hated himself for painting on Sundays.
Once the brokerage house, rather than the bank, became the locus for American savings, that money would find its way into the stock market, because the broker was someone with a much higher tolerance for risk than the banker.
Over the years, many in the public have become numb to news of financial corruption, partly because too many of these stories involve banker-on-banker crime.
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