A Quote by Stephen A. Schwarzman
We need sobriety, rationality, and civility in the discussions on the regulation of financial institutions so that the banks can return in a robust manner to their central role in funding the economy.
Quote Topics
Quote Author
Related Quotes
Banks are concerned the central bank is imposing too many regulations. If the trend continues, we'll swing to heavy regulation. We need to have balanced regulation to encourage the economy.
I'm not trying to be diplomatic. I'm trying to be more nuanced and realistic. I think there has to be a serious examination of the shortcomings of the Euro structure. Euro central institutions, whether it be fiscal policy, monetary policy, financial regulation, are simply not as robust as they are in a currency that has a national government behind it.
North Carolina is home to some of the largest financial institutions in the country, and a vibrant network of community banks. We're a banking state, and we're proud of that distinction. But we also understand that responsible financial regulation protects consumers and businesses.
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.
The subprime disaster was a result of financial bombs - derivatives - exploding in financial institutions such as AIG and Lehman Brothers, as well as banks and financial institutions throughout the world.
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.
We need financial regulation that allows businesses and the banks they use to have access to the tools that help keep prices of consumer goods - like groceries and home heating oil - steady, while ensuring that the taxpayers are never again on the hook for the types of wild bets that helped crash the economy in 2008.
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.
The Fed has a lot of power in the economy because it has a big impact on the supply and cost of credit, that is, interest rates. It also plays a key role in supervising banks and historically has seemed to take it easy on the banks when it shouldn't have, such as in the lead up to the financial crisis.
It is wrong when we, in effect, throw safe and sound financial institutions into the same category with banks and lenders that climbed too far out on a limb with no way to return.
I knew ART was was going to give me this opportunity to expand my role as a director and finally let me have a seat at the table where I could get involved in these policy discussions and producing discussions and, frankly, the financial discussions.
Central banks are choosing to increase their gold holdings as a percentage of total reserves. They obviously think there is a reason to do that. It doesn't make sense to back up one currency with a hoard of other paper currencies. There needs to be a real anchor there. I think that central banks are well behind the curve. If you look at the percentage of above-ground gold controlled by central banks, it's historically low. Hence the fact that central banks are trying to increase their holdings. They've got a long way to go to get where they need to be.
I have great, great confidence in our capital markets and in our financial institutions. Our financial institutions, banks and investment banks, are strong. Our capital markets are resilient. They're efficient. They're flexible.
Our large size, capital base, robust funding profile, extensive distribution network, diversified portfolio, presence across the financial services sector, and leadership in technology position us very well to leverage the growth opportunities across the economy.
The lack of monetary discipline has become a hallmark of unfettered globalization. Central banks have failed to provide a stable underpinning to world financial markets and to an increasingly asset-dependent global economy.
By fostering the economic health and vitality of local communities throughout the country, community banks play a central role in our national economy. One important aspect of that role is to serve as a primary source of credit for the small businesses that are responsible for creating a substantial proportion of all new jobs.
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