Finance Quotes



Search Results (108)

Quote Author Cited
In a world awash in debt, power shifts to creditors. Fareed Zakaria
Money is the seed of money, and the first guinea is sometimes more difficult to acquire than the second million. Jean-Jacques Rousseau
A business that makes nothing but money is a poor business. Henry Ford
Every time a man expects, as he says, his money to work for him, he is expecting other people to work for him. Dorothy L. Sayers
In a great financial emergency nearly every country has, at one time or another, been tempted to confuse the monetary with the fiscal functions of the Treasury. To borrow by the issue of money seems to have a seductive charm hard to resist. J. Laurence Laughlin
… lame duck Horace Walpole; 4th Earl of Oxford
Nearly every one of the foreign financial crises of recent decades has led to an increase in the U. S. trade deficit. Robert Z. Albier
I am a gentleman. I live by robbing the poor. George Bernard Shaw
I was not a conscientious objector. I was a political objector. I believed that finance and commercial rivalry had led to war. David Kirkwood
Whoever owns the means of credit controls the industrial life of the nation. Frederic C. Howe
Despotism, be it financial or political, is vulnerable, unless it is believed to rest upon a moral sanction. Louis D. Brandeis
If you’re going to give objective advice, you’ve got to take the self interest out of the equation. Charles Schwab Inc.
We have lost control over the financial system ... by printing much more money than in previous years. Mikhail Gorbachev
The traditional boundaries between politics, culture, technology, finance, national security, and ecology are disappearing. You cannot explain one without referring to them all. Thomas Friedman
I do not dislike your bank any more than all banks. Andrew Jackson
… a union of power in the same hands over industry, commerce and finance, with a resulting power over public affairs. Frederich William Lehmann
I don’t know anything about money. Abraham Lincoln
The biggest enemy of the United States is not some terrorist hiding in a cave in Afghanistan or Pakistan but our own fiscal irresponsibility David Walker
The Church raises the question concerning the need to establish comprehensive control over transnational corporations and the processes taking place in the financial sector of economy. This control, aimed to subject any entrepreneurial and financial activity to the interests of man and people, should be exercised through all mechanisms available in society and state. Russian Orthodox Church
For the accommodation of the people of every state and territory, let Congress show their wisdom by granting a national bank, with branches in each state and territory, where the capital stock shall be held by the nation for the mother bank: and by the states and territories, for the branches; and whose officers and directors shall be elected yearly by the people with wages at the rate of two dollars per day for services; which several banks shall never issue any more bills than the amount of capital stock in her vaults and the interest. The net gain of the mother bank shall be applied to the national revenue, and that of the branches to the states and territories' revenues. And the bills shall be par throughout the nation, which will mercifully cure that fatal disorder known in cities as brokerage; and leave the people's money in their own pockets. Joseph Smith, Jr.
A budget is a moral document of a nation’s priorities. Ted Kennedy
Cultural difference cannot be an excuse for the blatant levels of corruption that bedevil many parts of Africa. Corruption is one of Africa’s key problems. African societies are riddled with it – from kleptocratic leaders at the top, salting money away in Western bank accounts, to soldiers at roadblocks demanding bribes to let you through, to clerks in government bureaucracies charging to hand out official forms. But we in the rich world do not have clean hands here. Corruption is fed by big Western companies that routinely offer bribes to African leaders. Bob Geldof
I want to say to America that France is not what they think it is. There has never been a war between the French and the Americans. There is no need for us to argue…. France has to be an ally of the United States. We both have the same values. Nicolas Sarkozy
Not having a country with a financial crisis in the year is a pretty big deal to me. But something that didn’t happen is not something that people will focus on. John B. Taylor
Without international economics getting done, foreign policy doesn’t get done. Faryar Shirzad
Clearly, sustained low inflation implies less uncertainty about the future, and lower risk premiums imply higher prices of stocks and other earning assets. We can see that in the inverse relationship exhibited by price/earnings ratios and the rate of inflation in the past. But how do we know when irrational exuberance has unduly escalated asset values, which then become subject to unexpected and prolonged contractions … Alan Greenspan
Our forefathers showed much wisdom in selecting silver, of the two metals, out of which to make the unit…. In considering which of these two metals they would thus favor by making it the unit, they were led to adopt silver because it was the most reliable. It was the most favored as money by the people. It was scattered among all the people. Men having a design to injure business by making money scarce, could not easily get hold of all the silver and hide it away, as they could gold. This was the principal reason that led them to the conclusion to select silver, the more stable of the two metals, upon which to fix the unit. It was so much handled by the people and preferred by them, that it was called the people's money. William Hope Harvey; Coin Harvey
Russian international weakness was largely due to failures of Russian economic reforms, which made Russia extremely vulnerable, extremely dependent on foreign financial aid Alexey Arbatov
We have, in this country, one of the most corrupt institutions the world has ever known. I refer to the Federal Reserve Board. This evil institution has impoverished the people of the United States and has practically bankrupted our government. It has done this through the corrupt practices of the moneyed vultures who control it Louis Thomas McFadden
It was only through the Government's help that anything this gargantuan in size could be accomplished, much as landing on the Moon. It was not rugged individualists who built the railroad, it was rugged corporations who formed and financed themselves as entities. It was the rugged federal government that came up with the federal loans, and the land grants, that enabled it to be built. Amid all the romance of building the railroad we tend to forget that it was one of the major industrial enterprises of its age. T. H. Watkins
Trade will increase trade, and money will beget money, and the trading world shall need no more to want work for their hands, but will rather want hands for their work William Paterson
The Bretton Woods agreement will enthrone a world dictatorship of private finance more complete and terrible than an Hitlerite dream. It offers no solution of world problems, but quite blatantly sets up controls which will reduce the smaller nations to vassal states and make every government the mouthpiece and tool of International Finance. It will undermine and destroy the democratic institutions. John Edward
I believe that banking institutions are more dangerous to our liberties than standing armies. Thomas Jefferson
Financial markets have a tendency to go to excess. Robert E. Rubin
Credit default swaps were nothing more than souped up versions of things that have been around for a long time like soy bean futures Steve Forbes
I should be sorry if on this occasion the House should decide that speculations in the funds are violations of either the moral or political law. A government hardly exists in which such speculation is disallowed. Elias Cornelius Boudinot
Since this report has been read in the House, a spirit of havoc, speculation and ruin, has arisen by people who had access to the information… Three vessels Sir have sailed within a fortnight freighted for speculation; they are intended to purchase up the State and other securities in the hands of the uninformed but honest citizens of North Carolina, South Carolina, and Georgia. My soul rises indignant at the avaricious and immoral turpitude which so vile a conduct displays. James Jackson
What is prudence in the conduct of every private family, can scarcely be folly in that of a great kingdom. Adam Smith
I am a most unhappy man. I have unwittingly ruined my country. A great industrial nation is controlled by its system of credit. Our system of credit is concentrated. The growth of the nation, therefore, and all our activities are in the hands of a few men. We have come to be one of the worst ruled, one of the most completely controlled and dominated Governments in the civilized world no longer a Government by free opinion, no longer a Government by conviction and the vote of the majority, but a Government by the opinion and duress of a small group of dominant men Woodrow Wilson
The debt ceiling should never be part of the budget negotiation process. Robert E. Rubin
Strong banks want strong regulation. Jamie Diamond
We want to be sure that it is more profitable to play by the rules than it is to game the system. Barack Obama
I think that this is the most significant financial crisis in the post-War period for the United States, and it has in fact a global reach. . . . I think it is extraordinarily important to understand that, as we have seen in many previous examples of different countries and different times, choking up of credit is like taking the lifeblood away from the economy. Ben Bernanke
The Commission concludes that the banking supervisors failed to adequately and proactively identify and police the weaknesses of the banks and thrifts or their poor corporate governance and risk management, often maintaining satisfactory ratings on institutions until just before their collapse. This failure was caused by many factors, including beliefs that regulation was unduly burdensome, that financial institutions were capable of self-regulation, and that regulators should not interfere with activities reported as profitable. Financial Crisis Inquiry Commission
Securitization was one of the most brilliant financial innovations of the 20th century. It freed up a lot of capital. If it had been done responsibly, it would have been a wondrous thing because nothing is more stable, there’s nothing safer, than the American mortgage market. . . . It worked for years. But then people realized they could scam it. James Rokakis
You can't keep fraud out of the system. The key to good regulation is how quickly you catch it. John G. Heimann
Instability is never a good idea. Christine Lagarde
Most of our financial laws are the outgrowth of experience and trial, and should not be amended without investigation and demonstration of the wisdom of the proposed changes. We must both be sure we are right and make haste slowly. William McKinley
The Isle of Man managed to slip through a crack in the space-time continuum...fallen off the back of the history lorry to lie amnesiac in the road to progress...its main industry is money (laundering, pressing, altering and mending)...The weather’s foul, the food’s medieval, it’s covered in suicidal motorists and folk who believe in fairies Adrian Anthony Gill
… there must be a strict supervision of all banking and credits and investments; there must be an end to speculation with other people's money Franklin D. Roosevelt
We have not only made a nation, rough-hewn and popularly governed, the marvel of development among great nations; we have contributed to the uplift and elevated the standard of living; we have not only become leaders in finance and industry; we have not only become equals in education and rivals in art, but we are the inspiration and example of other republics, and ought to be, could be, influencing the idealization of the government of the earth. It justifies our pride in the past, explains the nation-wide turning to the party for the country’s restoration, and gives every assurance of glorious triumphs in the future. Judson Welliver
[It has become] … a principal ground whereon was reared up that Speculating phalanx. Thomas Jefferson
The big bankers of the world, who practice the terrorism of money, are more powerful than kings and field marshals, even more than the Pope of Rome himself. They never dirty their hands. They kill no-one: they limit themselves to applauding the show. Their officials, international technocrats, rule our countries: they are neither presidents nor ministers, they have not been elected, but they decide the level of salaries and public expenditure, investments and divestments, prices, taxes, interest rates, subsidies, when the sun rises and how frequently it rains. However, they don't concern themselves with the prisons or torture chambers or concentration camps or extermination centers, although these house the inevitable consequences of their acts. The technocrats claim the privilege of irresponsibility: 'We're neutral' they say. Eduardo Galeano
I will not permit my government to be influenced by the markets. Itamar Augusto Cautiero Franco
The financial firms—the same ones who were involved in the 2008 meltdown—are still the most powerful lobby on Capitol Hill. And frankly, they own the place. Richard Durbin
… the U.S. brokerage and investment banking industry has transformed the modern American stock market into nothing more than a mechanism for transferring wealth from shareholders to management. Peter Schiff
The best scheme of finance is, to spend as little as possible; and the best tax is always the lightest. Jean-Baptiste Say
The occupation of the stock-jobber yields no new or useful product; consequently having no product of his own to give in exchange, he has no revenue to subsist upon, but what he contrives to make out of the unskillfulness or ill-fortune of gamesters like himself. Jean-Baptiste Say
The one thing about markets is that they do not give any advance notice. If they did, they would be arbitraged away. Alan Greenspan
This matter of prices was frequently made a subject for jesting in private, but for the most part it was carefully avoided in the newspapers. It was too ominous of evil to be a fit topic of editorial discussion on ordinary occasions. As with the accounts of battles in which our arms were not successful, necessary references to the condition of the finances were crowded into a corner, as far out of sight as possible. George Cary Eggleston
Hawaii’s Needs. Not Wall Street Greed. Anonymous
The financial interests have captured the government institutions. Neil Barofsky
Year after year the Banker's slice of the world's asset baskets has been growing and growing. The Banker has become almighty. Hans Schicht
Independently of its misdeeds, the mere power, — the bare existence of such a power, — is a thing irreconcilable with the nature and spirit of our institutions Nicholas Philip Trist
The few who understand the system [of banking with capitalism] will either be so interested in its profits or be so dependent upon its favors that there will be no opposition from that class, while on the other hand, the great body of people, mentally incapable of comprehending the tremendous advantage that capital derives from the system, will bear its burdens without complaint, and perhaps without even suspecting that the system is inimical to their interests Mayer Amschel Rothschild
It is the growing custom to narrow control, concentrate power, disregard and disfranchise the public; and assuming that certain powers by divine right of money-raising or by sheer assumption, have the power to do as they think best without consulting the wisdom of mankind. W. E. B. Du Bois
Money has no motherland; financiers are without patriotism and without decency; their sole object is gain. Napoleon Bonaparte
When a government is dependent upon bankers for money, they and not the leaders of the government control the situation, since the hand that gives is above the hand that takes. Napoleon Bonaparte
The trade of the petty usurer is hated with most reason: it makes a profit from currency itself, instead of making it from the process which currency was meant to serve. Their common characteristic is obviously their sordid avarice. Aristotle
Banks have done more injury to the religion, morality, tranquility, prosperity, and even wealth of the nation than they can have done or ever will do good. John Adams
Wall Street has become the Western extension of Threadneedle and Lombard streets, and the wealthy classes of England and America have been brought into touch. . . . James Baird Weaver
The real truth of the matter is, as you and I know, that a financial element in the larger centers has owned the Government ever since the days of Andrew Jackson — and I am not wholly excepting the Administration of Woodrow Wilson. The country is going through a repetition of Jackson's fight with the Bank of the United States — only on a far bigger and broader basis. Franklin D. Roosevelt
If the country is to flourish, capital must be invested in enterprise. But those who seek to draw upon other people's money must be wholly candid regarding the facts on which the investor's judgment is asked. Franklin D. Roosevelt
The financial system is drifting back to business as usual a bit to quickly …. We are starting to see risky behavior of the sort that people were scared of after the crises Alan S. Blinder
Money lending is a horrible profession. If we are to call it otherwise it is lawful plundering. Periyar E. V. Ramasamy
There are persons who constantly clamor. They complain of oppression, speculation, and pernicious influence of wealth. They cry out loudly against all banks and corporations, and a means by which small capitalists become united in order to produce important and beneficial results. They carry on mad hostility against all established institutions. They would choke the fountain of industry and dry all streams. Daniel Webster
A striking feature of financial service activities during the past few decades is that the financial transactions essential to the operation of the 'real' economy has become increasingly dwarfed by speculative activity. Peter Dicken
The economy will bump along, with most of us struggling to make ends meet, while the same people who nearly wrecked the economy altogether will be making more money than they can count. Rich Turner
Most Congressman voted for or against Dodd-Frank —nearly all along party lines—without any remotely understanding its provisions. Robert J. Kaiser
It’s very hard to write regulations that will prevent people from acting foolishly—particularly when acting foolishly has recently made them a lot of money. Warren Buffett
Three industries in particular—finance, real estate, and insurance—benefit from the system, which they achieve by lobbying heavily and systematically contributing to political campaigns in order to retain and fortify their privileges. Desmond King
Fannie Mae may have conformed to the rules but the rules didn’t conform to reality. A major bank or financial institution could meet every single regulatory requirement yet still be at the risk of collapse. Adam Davidson
There’s a lot of money in making financial products whose risk few understand. Simplicity might be good for economics, but it’s lousy for Wall Street bonuses. Adam Davidson
Financial institutions risk becoming socially useless unless they focus on the real economy and help businesses invest and create jobs. Mark Carney
Banks can’t put their money in the bank. They have to lend it out. Barbara Garson
You had the Crash [Meltdown] of 2008, where the financial system actually collapsed and had to be put on life support, which consisted of substituting sovereign credit for the financial credit that was no longer credible. George Soros
Everyone failed to appreciate that our sophisticated, hypermodern, highly hedged, derivative-based financial system—how ultimately fragile it really was. Ben Bernanke
I don’t know why the Stock Market does what it does. Steve Jobs
When I first came to Wall Street, not 100 women in the whole of the United States owned stocks or dared to show independence in property ownership. Highest positioned men scowled at any thought of women investment. For a woman to consider a financial question was shuddered over as a profanity. Victoria Woodhull
There can be few fields of human endeavor in which history counts for so little as in the world of finance. John Kenneth Galbraith
The Persian Government more than a year ago sought the aid of American experts in the reorganization of their finances. While this Government could not assume any responsibility in this matter, it was glad that the services of competent American citizens could be secured, and a financial mission accordingly proceeded to Persia and for the past year has been rendering important expert aid. Charles Evans Hughes
… attempting to supervise the financial sector is a fool’s errand Felix Martin
Global banking’s current structure generates an unjust distribution of risks, where losses are socialized. Felix Martin
I am not in Wall Street for my health. J. Pierpont Morgan
… a pin lies in wait for every bubble. And when the two eventually meet, a new wave of investors learns some very old lessons.. Warren Buffett
You couldn't advance in a finance department in this country unless you thought that the world was flat. Warren Buffett
Complexity and innovation are not always good things. Henry Paulson
Your Minister of Finance must confess to Your Majesty that he is frozen with terror on examining the budget for the War, and must also that he knows of no means by which such expenses can possibly be met…. Isaac Jan Alexander Gogel
It is impossible, financially and politically, to lower expenditure to the level of our revenues in the calamitous times in which we live, and so, however painful and afflicting the idea may be, we must exist from day to day and simply await the outcome of events yet in the making … Cornelis Felix van Maanen
When I buy a $3 pack of toilet paper …, I pay an extra 8.25 percent in sales tax. But if a high roller in the high frequency [stock] trade game buys $10 million worth of corporate stock, he or she pays zero tax on the sale. That’s why we need a financial transaction tax. Jim Hightower
It is as easy to bemoan a lack of U. S. financial leadership as it is difficult to substitute for it.. Benn Steil
I’ll be damned if I will accept another package of economic policies perpetuate the same crisis. This is not what I was elected for. Yanis Varoufakis
When the finance or marketing people run a company, innovation stops. Steve Jobs
... our economy is gradually becoming a zero-sum game between financial wealth holders and the rest of America. Wallace C. Turbeville
America's economic illness has a name: financialization. It's an academic term for the trend by which Wall Street and its methods have come to reign supreme in America, permeating not just the financial industry but also much of American business. Rana Foroohar
The American economy must be altered to put business back in the driver's seat. The correct role for finance is to support job creation. Rana Foroohar
The question is therefore not whether there will be globalization but how much and what kind, carried out through what means and according to what rules. Ira Katznelson
We now have the ability to explore many new treatments for many diseases. However we do not have enough many to explore them all…. I measure time by the number of patients who die each day as the result of diseases that we do not have enough money to develop cures for. We have the tools. We need the money. Andrew Lo