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By the 1890s, the leading Wall Street bankers were becoming increasingly disgruntled with their own creation, the National Banking System... while the banking system was partially centralized under their leadership, it was not centralized enough.
I helped purify Nicaragua for the international banking house of Brown Brothers in 1909-1912. I brought light to the Dominican Republic for American sugar interests in 1916. In China I helped to see to it that Standard Oil went its way unmolested.
I've always tried to set some kind of goal. I want to be better than anybody in the banking business, and when I ran the Highway Department in Georgia, I wanted it to be the best in the country. And of course, I have a high sense of public service.
Believe me. When you're talking about trust in government, you're preaching to the choir, whether it's on the financial side, the central banking side: we see areas where the government does good jobs; we see areas where they don't do as good a job.
Rather than worrying about entities, we should worry about the trends in technology that may cause disruptions... if we get so paranoid that banking is no longer going to exist and banks are going to get disrupted, I think that is a different worry.
Before even getting to David Cameron's father here's a starting-point question about the Panama Papers: how is the desire to break the anonymity of Panama banking secrecy different from the FBI's interest in breaking Apple's encryption of the iPhone?
In my experience, not all women want to run the world. Not all women want to run a big banking conglomerate. Not all women want to be prime minister. What a lot of women want is a good career that respects them… and high-quality, affordable childcare.
Investment banking is not a business; it is a personal service where bankers work hand in hand with their clients. And it is a service that must not simply be about making bigger and bigger deals that reap rewards for only a small group of executives.
At the heart of banking is a suicidal strategy. Banks take money from the public or each other on call, skim it for their own reward and then lock the rest up in volatile, insecure and illiquid loans that at times they cannot redeem without public aid.
The Apple imperative is to build a system that is 100 per cent resistant to any government warrant. The data on your iPhone, no matter how swarmy, corrupt, or dangerous you are, is supposedly safe. That's also the proposition of Panamanian banking laws.
In the U.A.E. we were the least-regulated environment in the region, and over time we are seeing more and more regulation coming in. On the other hand, a central bank can overregulate and choke the economy, and then we will have a dead banking industry.
You can't fall back on the private sector and say, 'You take care of the nation's banking system.' That's a fundamental function of the government, the Federal Reserve, the Treasury and the FDIC, etc. All of those agencies have a major role to play there.
If you're just interested in the prestige of banking, that's not what's going to sustain you. You have to be interested in what we do: managing and originating capital, helping issuers and investors come together is great, bringing these companies to life.
I think it's an uphill battle in every field. You hear late-night comedy is hard on women. And then you hear investment banking is hard on women. And tech is hard on women. And then you start digging, and you learn philosophy departments are hard on women!
Machines can do things cheaper and better. We're very used to that in banking, for example. ATM machines are better than tellers if you want a simple transaction. They're faster, they're less trouble, they're more reliable, so they put tellers out of work.
With post offices and postal workers already on the ground, USPS could partner with banks to make a critical difference for millions of Americans who don't have basic banking services because there are almost no banks or bank branches in their neighborhoods.
I am happy to be running a public sector bank. In times of stress, most people will always have an account with us, so, to the extent that it gives stability and faith for the people and because banking is a business of trust, it is a major advantage we have.
We are inheriting the worst financial system since the Depression. We're inheriting a situation - when people go back and study major banking crises a quarter century from now, the one that America developed in 2007 and 2008 is going to be one of those crises.
If the white folks feel America is great for everybody, I don't want to change what they love. All I want is to bring my love and respect in the areas of law, policy, business, and banking. That's what I do when I do my extremely rare lectures at universities.
In my generation, except for a few people who'd gone into banking or nursing or something like that, middle-class women didn't have careers. You were to marry and have children and be a nice mother. You didn't go out and do anything. I found that I got restless.
This crisis started probably due to the freedom they gave to the banks. First President [Ronald] Reagan and then President [Bill] Clinton. So, for [Barack] Obama it is extremely difficult to change now, to find a way to organize this banking system [differently].
If I had known how hard it would be to do something new, particularly in the payments industry, I would never have started PayPal. That's why nobody with long experience in banking had done it. You needed to be naive enough to think that new things could be done.
Well what would happen is that if Greece defaulted and couldn't pay its debts, all the Greek bonds that are held in other banking systems across Western Europe would suddenly have no value. You could as a knock-on effect create a banking crisis in Western Europe.
After I met my partner, Mr. Protherow, we decided to start a banking project, and at the same time we started to think already about a business on a bigger scale. At the very beginning we thought more about gaining money, to have a normal life with our families, etc.
I'm one of those lucky guys making a living out of something I really enjoy doing. That's a blessing. But you never know. What if my subsequent book series flops? I don't come from a wealthy background, so I'd be left with no choice. I'd have to go back into banking!
I am not in the business of pointing fingers or making excuses. However, recent history has shown that I, like thousands of others in Ireland, incorrectly relied upon the persons who guided Anglo and who wrongfully sought to portray a 'blue chip' Irish banking sector.
If you don't have a functioning financial system the world economy won't be revived. All the major economies have their responsibility to assist at a pace which is required to clean up the balance sheet of the banking system and to ensure that credit flows are resumed.
By the time Obama came into office, Washington had already agreed over a period of a few weeks to a $700 billion government infusion into the world banking system. Nothing of the sort had ever been done before, and it was done spit spot with very little national debate.
We are going to make people who do some things with Santander into loyal customers who bank with us every day. This is what will allow us to compete in a world where banking customers have more and more choice. If we don't do this, then we won't grow in the next decade.
A dollar vigilante is a free market individual who protests the government monopoly and financial policies, such as fractional reserve banking and unbacked fiat currencies, by selling those same fiat currencies in favor of other assets, including gold and precious metals.
I always tried to move up the food chain. I started with cement and then moved into textiles and banking. When I was trading sugar, I added salt and flour so that then we could do pasta. And then I thought, why not make the bag for it, too? So, we started making packaging.
As far as the banking industry is concerned - and I am sure it must be true for various industries as well - is that the only thing that is constant is change. Your business models are changing, the customer demands are changing and the regulations are changing constantly.
It's just very hard to teach a class of students about what has happened in the Global Financial Crisis, how we ended up there and how we got to where we are today, without having some basic, non-trivial understanding of the financial sector, credit, and the banking system.
The Federal Reserve is not charged with designing or evaluating proposals for housing finance reform. But we are responsible for regulating and supervising banking institutions to ensure their safety and soundness, and more broadly for the stability of the financial system.
Stripe is building payment infrastructure for the Web, so we make it easy to accept credit cards online. Before Stripe, the way youd do this is using the legacy banking structure. It was slow, it was complex, it was expensive. It had this very chilling effect on e-commerce.
Traditional consumer banking will come under extreme pressure as its central deposit-taking and lending functions are challenged by online savings vehicles, crowdfunding, and loan syndicating by such nontraditional competitors as insurance companies, pension and hedge funds.
Stripe is building payment infrastructure for the Web, so we make it easy to accept credit cards online. Before Stripe, the way you'd do this is using the legacy banking structure. It was slow, it was complex, it was expensive. It had this very chilling effect on e-commerce.
Banking, as far as I can tell, seems to be almost as precise a science as using a slot machine. You either blindly hope for the best, delude yourself into thinking you've worked out a system, or open it up when no one's looking and rig the settings so it'll pay out illegally.
Carefully calculate the potential size of your market to make sure you can grow. Before starting Mint, I knew that there were about 20 million people who had purchased 'Quicken' or 'Microsoft Money' over the years, and 80 million people using online banking in the U.S. alone.
The stuff that's going on is just so over-the-top, with the banking crisis and destroying the Gulf of Mexico, and the outrage hasn't quite caught up with the people yet. But when it does, I think you're going to see really virulent anti-authoritarian kind of comedy coming out.
People need the financial sector to be safe; people also need the financial sector to go through a massive phase of innovation. That means delivering on the positive rhetoric, like around settlement accounts, not allowing Open Banking to be diluted, and leading the way on AML.
India has a very young population which is comfortable doing business on a screen than do it one on one with a banking executive. They want quick fulfilment of desires, and may not have the time to go to a bank to get things done. Many of them are comfortable working from home.
The Cyprus Financial Crisis was a devastating blow to Cypriots and halted their banking system. Banks closed for two weeks to prevent a banking panic. When they reopened, capital controls were placed on the people's money, and customers were met by armed guards at the branches.
The whole banking sector in Mexico was literally bankrupt. For whatever reason, instead of intervening in the sector or supporting the banks, the government expropriated them. We went through the very laborious period of selling the failing banks to the wealthy people of Mexico.
To me, the most terrifying form of warfare would be if there was some simultaneous cyber attack on our grid, on the banking system, and on our transportation system. That would be quite a devastating thing, and yet in theory, absent some real protective measures, that could happen.
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.
The middle class is teetering on the brink of collapse just as surely as AIG was in the fall of 2009 - only this time, it's not just one giant insurance company (and its banking counterparties) facing disaster, it's tens of millions of hardworking Americans who played by the rules.
The viral power of online media has proven how fast creative ideas can be spread and adopted, using tools like cellphones, digital cameras, micro-credit, mobile banking, Facebook, and Twitter. A perfect example? The way the Green Movement in Iran caught fire thanks to social media.
Our international banking system allows banks to accept funds gained from tax evasion and other crimes and thereby facilitates and encourages embezzlement by public officials, especially in developing countries, as well as tax evasion and tax avoidance by multinational corporations.
Payable On Death is actually a banking term, when someone passes on, what someone leaves behind. We related that to Jesus on the cross, and by his death, our sins are paid, the debt is paid. We have salvation if we want it. We got tired of saying Payable On Death, so we went to P.O.D.