International lending banks need to focus on areas where private investment doesn't go, such as infrastructure projects, education and poverty relief.— Joseph Stiglitz
Captivate Investment Banking quotations
The world's most powerful investment bank is a great vampire squid wrapped around the face of humanity, relentlessly jamming its blood funnel into anything that smells like money.
I think that much of the advice given to young men about saving money is wrong.
I never saved a cent until I was forty years old. I invested in myself - in study, in mastering my tools, in preparation. Many a man who is putting a few dollars a week into the bank would do much better to put it into himself.
If you can't find any companies that you think are attractive, put your money in the bank until you discover some.
A tiny portion of the population controls the lions share of the wealth and most of the command positions of state, manufacturing, banking, investment, publishing, higher education, philanthropy, and media... these individuals exercise a preponderant influence over what is passed off as public information and democratic discourse.
My early work and publications centered around expanding on the analysis of life insurance in my dissertation and its relationship to investment banking.
Where are the jobs going to come from?Small business, manufacturing and clean energy. Where's the money to finance them? The banks and the corporations in America today have lots of money that they can invest right now.
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.
The financial crisis of 2008 was not caused by investment banks betting against the housing market in 2007. It was caused by the fact that too few investors - including all of the big investment banks - bet too heavily on the housing market in the years before 2007.
An MBA is a great degree for career paths like investment banking, finance, consulting, and large companies. An MBA is not necessarily the right path for starting a tech company. You should be building a prototype, not getting an MBA in that case.
Second, they [those who disagree with market efficiency] always claim they know a man, a bank, or a fund that does do better. Alas, anecdotes are not science. And once Wharton School dissertations seek to quantify the performers, these have a tendency to evaporate into the air - or, at least, into statistically insignificant t-statistics.
There are a lot of ways that investment banking models work, but these risks are not internalized by the people that are taking them.
It's natural that you'd have more brains going into money management.
There are so many huge incomes in money management and investment banking - it's like ants to sugar. There are huge incentives for a man to take up money management as opposed to, say, physics, and it's a lot easier.
Your security is not your job, or your bank account, or your investments, or your spouse or your parents. Your security is your ability to connect with the cosmic power that creates all things.
There's more honor in investment management than in investment banking.
Simply making consistent investments in our self-education and knowledge banks pays major dividends throughout our lives.
If investments in banks fall, it is a tragedy, and people say, 'What are we going to do?' but if people die of hunger, have nothing to eat or suffer from poor health, that's nothing.
Lethargy bordering on sloth remains the cornerstone of our investment style.
The exception was Wells Fargo, a superbly-managed, high-return banking operation in which we increased our ownership to just under 10%, the most we can own without the approval of the Federal Reserve Board.
From my point of view, the American financial system - including banks and investment banks - is far safer because of capital and liquidity requirements. Despite all the turbulence so far this year, I don't think anyone's questioning our system. And that, obviously, is a good thing.
When we were young, there weren't very many smart people in the investment world. You should have seen the people in the bank trust departments. Now, there are armies of smart people at private investment funds, etc . If there were a crisis now, there would be a lot more people with a lot of money ready to take advantage.
The Germans made just about every bad investment you could have made in the last 10 years. They invested in Icelandic banks. They invested in Greek government bonds. They were heavy into Irish banks, big into Irish banks, and they bought U.S. subprime mortgage bonds.
If you bail out every investment bank that gets in trouble, that's not capitalism, that's socialism for the rich
And I think the more money you put in people's hands, the more they will spend.
And if they don't spend it, they invest it. And investing it is another way of creating jobs. It puts money into mutual funds or other kinds of banks that can go out and make loans, and we need to do that.
If you go back to the time of J.P. Morgan, the world of high finance was completely wholesale. The prestigious investment banks on Wall Street appealed exclusively to large corporations, governments, and to extremely wealthy individuals.
We got a lot of excellent people and businesses from Bear and WaMu.
But Bear definitely was more painful. WaMu got us into Florida, California, and other states, which was a huge benefit - to expand and grow and add middle-market, private banking, investment banking, and other products, too.
Anyone with special abilities earns a differential return on that flair, which we economists call a rent. Those few with extraordinary P.Q. (Performance Quotient) will not give away such rent to the Ford Foundation or the local bank trust department. They have too high an I.Q. for that.
It can be argued that 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.
Here's something else, something important: Love is not transactional.
It is not a bank account, you don't always get what you put in. Sometimes you put in so much and get very little return on your investment, at least that you can see right away.
And what did the banks do to earn this perpetually flowing river of wealth? Did they lend out their own capital obtained through investment of stockholders? Did they lend out the hard-earned savings of their depositors? No, neither of these were their major source of income. They simply waved the magic wand called fiat money.
We now know that climate action does not require economic sacrifice.
This is fully in line with the World Bank Group's findings. It is up to all of us to make smart policy choices that will help combat climate change. For example, putting a price on carbon is a necessary step and could drive resources and investments to a cleaner economy.
Maybe 23 cents doesn't sound like a lot to someone with a Swiss bank account, Cayman Island Investments and an IRA worth tens of millions of dollars. But Governor Romney, when we lose 23 cents every hour, every day, every paycheck, every job, over our entire lives, what we lose can't just be measured in dollars.
You cannot do a goal. Long-term planning and goal-setting must therefore be complemented by short-term planning. This kind of planning requires specifying activities. You can do an activity. Activities are steps along the way to a goal. Let's say you desire security. Putting $10.00 in the bank or talking to your stockbroker about your investment plans are activities that will move you toward your goal.
Investment banking has, in recent years, resembled a casino, and the massive scale of gambling losses has dragged down traditional business and retail lending activities as banks try to rebuild their balance sheets. This was one aspect of modern financial liberalisation that had dire consequences.
We need to keep investing in economic and homeland security.
We need to bank on the right kind of economic development. We need to embrace opportunities, but with the right kind of safeguards.
Our Government is committed to pursuing policies and programs which facilitate a further lowering of the interest rates in order to fuel investment and growth. We call on the commercial banks to partner with us in this effort.