A Quote by Michael Lewis
A banking system is an act of faith: it survives only for as long as people believe it will.
Related Quotes
Repeal the entire Banking Act of 1933, and Austrian School economists will cheer, especially if the current system were replaced by a 100%-reserve competitive banking with no central bank. That banking reform would give us a sound money system, meaning no more business cycle, bailouts, or inflation.
Is life worth living?
Yes, so long as there is wrong to right.
So long as faith with freedom reigns and loyal hope survives,
And gracious charity remains to leaven lowly lives;
While there is only one untrodden tract for intellect or will,
And men are free to think and act,
Life is worth living still.
They [political leaders ] thought the only problem was the banking system, and if they fixed the banking system, all would be fine. But the banking system and the mortgage problem were symptomatic of some deeper problems, and evidently they still haven't recognized those deeper problems.
Italy spills over to everything. Italy is a huge banking system. It has been the major banking system in Eastern Europe. It's worked with Austria's banking system. There's all sorts of interplays there. So it's not the PIIGS one should worry about. Germany hasn't even begun falling yet. And when Germany falls, and it will, that's when the panic begins to set in.
If you really believe something, you will act in accordance with that belief - always. If you believe in gravity, you will never attempt to defy it. If you claim to hold a belief but act incongruently, then you don't actually believe it. You're only kidding yourself. Casual faith isn't.
There's a loss of faith in the banking system that for so long has been the backbone of prosperity and growth.
There was a time when skepticism was an act of rebellion. Since to a degree I both believe in evolution and have faith, I can only conclude that, as prophesied, to have faith will someday be an act of rebellion.
In the U.S. more than any other place, the banking system is insane. Millions of Americans lost their houses. Because of what? Because of the banking system. This American banking system is also coming to Europe. We can say today that the banks and high financiers run the world.
The Chinese banking system is built on quicksand and that's the one thing a lot of people don't realize. [...] Everybody seems to think it is a free and clear open checkbook. It's not. [...] The banking system in China is extremely fragile.
The Chinese banking system is built on quicksand and that's the one thing a lot of people don't realize. Everybody seems to think it is a free and clear open checkbook. It's not. The banking system in China is extremely fragile.
"How can you see Christ in people?" And we only say: It is an act of faith, constantly repeated. It is an act of love, resulting from an act of faith. It is an act of hope, that we can awaken these same acts in their hearts, too, with the help of God.
People are losing faith in the banking system due to security issues.
We believe the new banks will complement the existing banking system, and there will be opportunities for players to identify mutually beneficial partnerships.
It's a safe banking system, a sound banking system. Our regulators are on top of it. This is a very manageable situation.
The public has lost faith in the ability of Social Security and Medicare to provide for old age. They've lost faith in the banking system and in conventional medical insurance.
If I did not believe, if I did not make what is called an act of faith (and each act of faith increases our faith, and our capacity for faith), if I did not have faith that the works of mercy do lighten the sum total of suffering in the world, so that those who are suffering on both sides of this ghastly struggle somehow mysteriously find their pain lifted and some balm of consolation poured on their wounds, if I did not believe these things, the problem of evil would indeed be overwhelming.
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