Quotes & Sayings About Bank Failures

Eli Willard just looked at her for a long moment, and then he announced, 'Lady of the Lake strikes iceberg in mid-Atlantic; 215 drown. New York City fire destroys 700 buildings. Japanese earthquake kills 12,000. Worldwide cholera epidemic kills millions. Wages rise, but prices rise faster. Financial crash occurs on Van Buren's 36th day in office. Nation begins first great depression. Bank failures and closings spread like plague. 200,000 are unemployed. Business bankrupt; only pawnbrokers prosper. Van Buren declares ten-hour days on all federal jobs. There. Does that make you feel any better? — Donald Harington

The federal [bank deposit] insurance scheme has worked up to now simply and solely because there have been very few bank failures. The next time we have a pestilence of them it will come to grief quickly enough, and if the good banks escape ruin with the bad ones it will be only because the taxpayer foots the bill. — H.L. Mencken

The Depression, which started in 1929 was rather mild from 1929 to 1930. And, indeed, in my opinion would have been over in 1931 at the latest had it not been that the Federal Reserve followed a policy which led to bank failures, widespread bank failures, and led to a reduction in the quantity of money. — Milton Friedman

Know where your money is because we're going to see bank failures, one after another. — Gerald Celente

When runaway inflation and bank failures struck in Germany in the 1920s, the middle class was destroyed, which led directly to the rise of the Nazis. — Nick Clooney

None of these things define you as a person: Your education The size of your bank account Your job title Your failures Your successes And sadly, we let so many of these things rule our lives. Obsession with crossing off the checkboxes of society's life plan leads to little other than therapy, midlife crises, and depression. — Srinivas Rao

Although the United States, with its unit banking laws, had thousands of bank failures, Canada, which permitted branch banking, didn't have a single failure during the Great Depression. — Jim Powell

Bank failures are caused by depositors who don't deposit enough money to cover losses due to mismanagement. — Dan Quayle

The Great Depression was going on, so that the station and the streets teemed with homeless people, just as they do today. The newspapers were full of stories of worker layoffs and farm foreclosures and bank failures, just as they are today. All that has changed, in my opinion, is that, thanks to television, we can hide a Great Depression. We may even be hiding a Third World War. — Kurt Vonnegut

If a bank fails in China, they behead the men at the top of it that was responsible ... If we beheaded all of ours that were responsible for bank failures, we wouldn't have enough people left to bury the heads. — Will Rogers

So perhaps the most worrying single remark made by a responsible banking official during the current crisis came from Jochen Sanio, the head of Germany's banking regulator BaFin. He warned on Aug. 1 that his country could be facing the worst banking crisis since 1931 - a reference to the collapse of Austria's Kredit Anstalt, which provoked a wave of bank failures across Europe. — Martin Walker