A Quote by John Ruskin
People cannot live by lending money to one another.
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The less money you have the more likely you are to live close to polluted roads. Most of us cannot choose to move further away from a main road or add another 40 minutes to our commute so that we can live in a quiet, clean, leafy street.
When lending people money, be sure their character exceeds their collateral.
Most banks - with Deutsche Bank at the top of the spectrum here - have decided that they can't make money lending to barrowers anymore, so they're going to the second business plan: They lend money to casino capitalists. That is, to people who want to gamble on derivatives.
No, I don't want your money. The world moves less by money than by what you owe people and what they owe you. I don't like to owe anybody anything, so I keep to myself as much on the lending side as I can.
When I say the economy is shrinking, it's the economy of the 99%, the people who have to work for a living and depend on earning money for what they can spend. The 1% makes its money basically by lending out their money to the 99%, on charging interest and speculating. So the stock market's doubled, the bond market's gone way up, and the 1% are earning more money than ever before, but the 99% are not. They're having to pay the 1%.
Talk what you will of the Jews,--that they are cursed: they thrive wherever they come; they are able to oblige the prince of their country by lending him money; none of them beg; they keep together; and as for their being hated, why, Christians hate one another as much.
The rich nations of the world are acting like ancient usurers, lending money to the desperate poor on terms that cannot possibly be met and, thus, steadily acquiring more and more control over the lives and assets of the poor.
The invention of money opened a new field to human avarice by giving rise to usury and the practice of lending money at interest while the owner passes a life of idleness.
It doesn't cost money to let people keep more of their own money. It costs money to spend money you don't have, but that's another issue.
I had no idea that I would ever get involved with something like lending money to poor people, given the circumstances in which I was working in Bangladesh.
No one is so old that he cannot live yet another year, nor so young that he cannot die today.
Groups that work in black neighborhoods around the country have contended that much of subprime lending is 'predatory lending.'
The problems of 2008 were never cured. The Federal Reserve's solution to the crisis was to lend the economy enough money to borrow its way out of debt. It thought that if it could subsidize banks lending homeowners enough money to buy houses from people who are defaulting, then the bank balance sheets would end up okay.
It is the quality of lending over the quantity of lending.
What went wrong is we had tremendous concentration in the sense we put a lot of our money to work against U.S. real estate. We got here by lending money, and putting money to work in the U.S. real estate market, in a size that was probably larger than what we ought to have done on a diversification basis.
There is one bit of advice given us by the ancient Greeks, and by the Jews in the Old Testament, and by the great Christian teachers of the Middle Ages, which the modern economic system has completely disobeyed. All these people told us not to lend money at interest; and lending money at interest - what we call investment - is the basis of our whole system.
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