A Quote by James P. Gorman
From our perspective, just narrowly from the financial sector and from our institution, there's nothing good about Brexit.
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Our overriding goal in restructuring our financial architecture should be that taxpayers never again have to save a failing financial institution.
The financial sector has so distorted salaries that physicists are getting drawn into the financial sector. All that has led to an undersupply of people committed to the public sector.
We will vote down a blind Brexit. This isn't about frustrating the process. It's about stopping a destructive Tory Brexit. It's about fighting for our values and about fighting for our country.
The multiple failings of our flawed financial sector are jeopardizing, not only the retirement security of our nation's savers but the economy in which our entire society participates.
We are all used to paying a sales tax when we buy things - almost 9 percent here in New York City. The application of this concept to the financial sector could solve our need for revenue, bring some sanity back into the financial sector, and give us a way to raise the revenue we need to run the government in a fiscally responsible way.
To disguise nothing, to conceal nothing, to write about those things that are closest to our pain, our happiness; to write about our sexual clumsiness, the agonies of Tantalus, the depth of our discouragement-what we glimpse in our dreams-our despair. To write about the foolish agonies of anxiety, the refreshment of our strength when these are ended; to write about our painful search for self, jeopardized by a stranger in the post office, a half-seen face in a train window, to write about the continents and populations of our dreams, about love and death, good and evil, the end of the world.
This country, of course, needs fundamental reform of our financial regulatory system, as I, and many other financial institution executives, have publicly advocated for a considerable period.
That's the problem with the financial sector. Banks and the financial sector live in the short run, not the long run. In principle the government is supposed to make regulations that help the economy over time. But once it's taken over by the financial sector, the government lives in the short run too.
The financial sector is vital to the economy. A well-functioning financial sector promotes job creation, innovation, and inclusive economic growth.
Fortunately, when Korea was struck by the 1997/8 financial crisis, that was a good opportunity for us to engage in fundamental reforms and strengthen our financial structure. As a result, our financial regulatory structure and regime have been very much strengthened.
It's always been government's role to protect the security of the nation. And cyber-attacks is a security issue, from our perspective. And it's a security issue of particular concern with respect to the nation's core critical infrastructure, the infrastructure everyone relies on, the energy sector, the telecommunications sector, the banking sector.
I believe that the financial crisis of 2008/9 exposed more a lack of ethics and morality - especially by the financial sector - rather than a problem of regulation or criminality. There were, of course, regulatory lessons to be learned, but at heart, there was a collective loss of our moral compass.
There is no form of Brexit that will be good for our country but a no-deal Brexit will be the most catastrophic of them all.
There is a simple way of avoiding excess risk-taking by the managers of our financial institutions. It is to make it a crime ... had a crime for reckless management of a financial institution been on the books, Northern Rock and RBS would not have blown up.
When large companies take on risk, then they impose risks on the rest of the system. And these are systemic risks and these systemic risks we never used to think were really that important, but as soon as we recognize how the financial sector - the risks the financial sector takes on can impact the entire global economy, we realize that those risks needed to be controlled for the social good.
SBI Caps has a distinct advantage because most of our people are market recruits. We have a public sector heritage. Our challenge is to bring the best of both - public sector heritage and private sector talent - and provide a unique offering.
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