A Quote by James P. Gorman
To enable large U.S. banks to support their clients better, the Volcker rule should be clarified.
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I support the Volcker rule, but there needs to be proper definitions around the Volcker rule so that banks can understand exactly what they can do and what they can't do, and that they can provide the necessary function of liquidity in customer markets.
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.
The major studios are by and large banks, and they give you what is by and large a loan to make a movie. Like banks, they want their money back plus.
By and large, I think it should be a rule in the teacher employment manual that you can't go attend any event where if you took your classroom on a student field trip, they would summarily be obliterated. That should be rule No. 1.
In my view, this is not extremism on the left. This is what the American people support in poll after poll. Support the right to a job. Support living wages. Support real climate action. Support small community-based banks that make loans available to every day people and small businesses, not these too-big-to-fail banks that rip us off, that crash the economy at taxpayer expense. Support a public-option healthcare system, not Obamacare, which has been a boondoggle for insurance and pharmaceutical companies.
I would say the No. 1 problem with the Volcker Rule is it's too complicated, and people don't know how to interpret it.
I think what Ripple is doing is not just, 'Hey, how do we enable banks' - it's a broader effort in how can you enable an Internet of Things and connected devices that are economic actors to pass a couple pennies.
I know a whole generation has been raised on the notion of multiculturalism; that all civilizations are just different. No! Not always. Sometimes things are better! Rule of law is better than autocracy and theocracy; equality of the sexes, better; protection of minorities, better; free speech, better; free elections, better; free appliances with large purchases, better! Don't get so tolerant that you tolerate intolerance.
President Obama likes to talk about the Buffett Rule. Well, here's a Buffett Rule that all Americans should be able to support: mom and pop businesses should not pay a higher tax rate than Fortune 500 corporations like Warren Buffett's.
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.
Informed clients are better clients, and they make for better design.
Somebody needs to position you and introduce you, but after that, most of the bankers get represented with their large clients; mostly investors are their long-term clients and an investee is a short term client.
10 Rules for Being Human: Rule #1 - You will receive a body. Rule #2 - You will be presented with lessons. Rule #3 - There are no mistakes, only lessons. Rule #4 - The lesson is repeated until learned. Rule #5 - Learning does not end. Rule #6 - "There" is no better than "here". Rule #7 - Others are only mirrors of you. Rule #8 - What you make of your life is up to you. Rule #9 - Your answers lie inside of you. Rule #10 - You will forget all this at birth.
Our approach to banking is very different from the traditional banks or even some of the new banks. We do not necessarily go out and write single-cheque, large-ticket loans.
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.
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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