A Quote by Stephen A. Schwarzman
Blackstone is a major client of many of the largest banks around the world.
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In the old days we were the challenger brand competing against the big banks, but today I go round the world and I sit with governors of central banks and finance ministers and, in some cases, prime ministers. They all know Travelex. We are regarded as the establishment - the world's largest retailer of foreign currency.
Banks don't want certain asset classes, and that's created opportunities for private equity, hedge funds, Silicon Valley. In this case I think he was referring to some of the European banks shedding assets, and the big buyers are probably not going to be big American banks. Someone like Blackstone may have a very good chance to buy those assets, leverage them, borrow up a little bit, and do something good there.
Given the extent of the exposures of major banks around the world to A.I.G., and in light of the extreme fragility of the system, there was a significant risk that A.I.G.'s failure could have sparked a global banking panic.
The tallest building in the world is now in Dubai, the biggest factory in the world is in China, the largest oil refinery is in India, the largest investment fund in the world is in Abu Dhabi, the largest Ferris wheel in the world is in Singapore.
Both in the US and throughout the world, there needs to be a growing presence of public development banks. These banks would make loans based on social welfare criteria - including advancing a full-employment, climate-stabilization agenda - as opposed to scouring the globe for the largest profit opportunities regardless of social costs.... Public development banks have always played a central role in supporting the successful economic development paths in the East Asian economies.
Well, the U.S., of course, is the world's largest economy. It's about a quarter of the world's output. It's also home to many of the largest financial institutions and financial markets.
Many photographers feel their client is the subject. My client is a woman in Kansas who reads Vogue. I'm trying to intrigue, stimulate, feed her. My responsibility is to the reader. The severe portrait that is not the greatest joy in the world to the subject may be enormously interesting to the reader.
Among the largest banks, the capital ratios remain good and I don’t expect any serious problems . . . . among the large, internationally active banks that make up a very substantial part of our banking system.
As the world's largest economy and second-largest carbon emitter, as a country with unsurpassed ability to drive innovation and scientific breakthroughs, as the country that people around the world continue to look to in times of crisis, we've got a vital role to play. We can't stand on the sidelines. We've got a unique responsibility.
The tar sands boom has become the world's largest energy project, the world's largest construction project, and the world's largest capital project.
I have been able to attend many technology conferences around the world over the years, including some of the largest, like Google I/O, Microsoft's Developer Conference, Apple's WorldWide Developers Conference, Oracle World, Le Web, and more.
What is the system? It revolves around the banks, the system is built on the power of the banks, so it can be destroyed through the banks.
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.
As many have pointed out, it is not clear that we need so many public sector banks. The system could be better off if they are consolidated into fewer but healthier banks.
The banking business is no favorite of ours. When assets are twenty times equity - a common ratio in this industry - mistakes that involve only a small portion of assets can destroy a major portion of equity. And mistakes have been the rule rather than the exception at many major banks.
Much of what Germany and France have done in the rescue of Greece has also helped German and French banks, who for a long time were major creditors for Greece and Greek banks.
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