And when you may be promoting currency, you’re in a commodity company |
“While from inside the a commodity organization, the only method to thrive will be a low-rates music producer. ” — Duff McDonald, composer of Past Son Status: The new Ascent of Jamie Dimon and you may JPMorgan Chase
“When you look at the economic services, when you need to be the ideal on the market, you first http://www.datingranking.net/adventist-singles-review should be a knowledgeable from inside the risk management and you can credit high quality. This is the basis for each and every most other way of measuring achievements. ” — John Stumpf, president and you may President regarding Wells Fargo.
“[W]hen you think about just what actually differentiates a financial while the a lender, it is the amount of money it manages to lose for the property they chooses for taking exposure which have.” — Joseph Ficalora, chairman and Ceo of brand new York People Bancorp
“On best experience, the answer to the newest show of every traditional commercial lender . ‘s the success of your own finance it makes.” — Robert Wilmers, president and you may President out of MT Bank
“Banking companies falter throughout the most of cases as his or her managements search increases without exceptions, grab earnings rather than due mention of chance, render blessed treatment to help you insiders, otherwise gamble on the future course of interest rates. Some only have shady administration you to loots the financial institution.” — Irvine Sprague, former chairman of Government Put Insurance rates Business and you may writer of Bailout: An enthusiastic Insider’s Account from Financial Problems and you may Rescues
“The newest banking company is zero favourite off ours. When property was twenty minutes security — a familiar ratio contained in this globe — mistakes one involve simply a little part of possessions is also damage a primary portion of guarantee. ” — Warren Buffett, president and you may President out-of Berkshire Hathaway
“[T]the guy first crappy financial loan try no doubt produced within the period of the beginning of one’s basic lender.” — James Give, writer of Money of your own Mind: Borrowing from the bank and Financing in the us throughout the Civil Battle to help you Michael Milken
“Put insurance policies possess proved to be the fresh new split cocaine out of American financing.” — Martin Mayer, author of The best-Ever before Financial Theft: The brand new Failure of one’s Deals and you can Financing Community
“You can’t handle earnings. They may vary centered on conditions outside [your] handle. But you can manage expenditures.” — Sandy Weill, former chairman and you will Chief executive officer from Citigroup
“The fresh inescapable realities where there are only unnecessary banking institutions within this country going after too little customers.” — Knob Rosenberg, former President out of Lender regarding The usa
“The target [is] not just to earn high output near the top of brand new period but also to cease giving them straight back at the end.” — Duff McDonald, composer of History Guy Standing: The Ascent away from Jamie Dimon and you will JPMorgan Pursue
“The united states, to be sure, enjoys 13,100000 banks, nevertheless the issue is that it doesn’t have thirteen,one hundred thousand bankers.” — Carter Golembe, writer of But I Never ever Made financing: My Field when you look at the Financial-Early Decades
“If you are competing into the highest quality credit, by the definition it will be with the budget of the brand new prices range. . If that is what is important to you, then how do you enhance all the way down production on the financing guide? Therefore accomplish that with the range you to definitely commission organizations provide for the revenue streams.” — Mike Hagedom, chairman and you may President of UMB Lender
“I do believe there is an important kernel out of realities from inside the the idea you to economic mistakes recur almost every other generation.” — James Offer, author of Money of one’s Notice: Borrowing from the bank and Financing in america regarding Civil Conflict so you can Michael Milken
“No-one has the to perhaps not think that the business cycle commonly change! All of the 5 years or more, you must assume that things bad can come.” — Jamie Dimon, president and Chief executive officer off JPMorgan Pursue