A Quote by Laurence D. Fink
I am pleased to be part of Promontory's steady efforts to assist banks and other financial firms in meeting legal and regulatory obligations and challenges.
Quote Topics
Quote Author
Related Quotes
The global financial system consists of firms in the financial services sector - banks, hedge funds, insurance companies and the like - and various governmental agencies who are charged with regulating these firms.
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.
Before I start a company, I always invest at least one year to knowing that sector thoroughly. I research about almost everything related to that business - competition, market potential, revenue model, legal and regulatory obligations, among other aspects.
If Senator Shelby calls his Financial Regulatory Improvement Act anything other than a hand out for the big banks, then he is being untruthful, and the people of Alabama deserve better.
Among other objectives, liquidity guidelines must take into account the risks that inadequate liquidity planning by major financial firms pose for the broader financial system, and they must ensure that these firms do not become excessively reliant on liquidity support from the central bank.
Limiting the destructive risk-taking by large financial firms and banks which are 'too big to fail' is needed.
In the future, financial firms of any type whose failure would pose a systemic risk must accept especially close regulatory scrutiny of their risk-taking.
The economic system is acting like a cancer on humanity. The regulatory system, the accountants, the legal firms support the metastasizing of this cancer.
As chief business affairs and legal officer, I am responsible for driving Airbnb's engagement strategy and civic partnership efforts as well as overseeing the company's global public policy, community mobilization, legal, communications, compliance, social initiatives, and philanthropy efforts.
So many times I've heard people say that the right to marry for gay and lesbian couples won't really change anything other than some legal and financial stuff. It's a dumb argument: those legal and financial effects matter.
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.
Maturity transformation is a central part of the economic function of banks and many other types of financial intermediaries.
In a world of businessmen and financial intermediaries who aggressively seek profit, innovators will always outpace regulators; the authorities cannot prevent changes in the structure of portfolios from occurring. What they can do is keep the asset-equity ratio of banks within bounds by setting equity-absorption ratios for various types of assets. If the authorities constrain banks and are aware of the activities of fringe banks and other financial institutions, they are in a better position to attenuate the disruptive expansionary tendencies of our economy.
If the authorities constrain banks and are aware of the activities of fringe banks and other financial institutions, they are in a better position to attenuate the disruptive expansionary tendencies of our economy.
I am not for buying into financial services firms because I am not sure of the quality.
For market discipline to constrain risk effectively, financial institutions must be allowed to fail. Under optimal financial regulatory and financial system infrastructures, such a failure would not threaten the overall system.
Related Authors
Bill Gates Quotes
American
Businessman
Charlie Munger Quotes
American
Businessman
Dieter F. Uchtdorf Quotes
German
Businessman
Henry Ford Quotes
American
Businessman
Jim Rohn Quotes
American
Businessman
Joseph B. Wirthlin Quotes
American
Businessman
Mark Cuban Quotes
American
Businessman
Mark Zuckerberg Quotes
American
Businessman
Peter Drucker Quotes
American
Businessman
Richard Branson Quotes
British
Businessman
Russell Simmons Quotes
American
Businessman
Sam Altman Quotes
American
Businessman
Steve Jobs Quotes
American
Businessman
Tom Peters Quotes
American
Businessman
Walt Disney Quotes
American
Businessman
Warren Buffett Quotes
American
Businessman