Bank Operations Quotes & Sayings

It is not the job of mathematicians ... to do correct arithmetical operations. It is the job of bank accountants. — Samuil Shatunovsky

The expansionary operations of the Second Bank of the United States, coupled with its laxity toward insisting on specie payment by the state banks, impelled a further inflationary expansion of state banks on top of the spectacular enlargement of the central bank. Thus, the number of incorporated state banks rose from 232 in 1816 to 338 in 1818. — Murray Rothbard

At the most basic level, a central bank must be clear and open about its actions and operations, particularly when they involve the deployment of public funds. — Ben Bernanke

He tried to read an elementary economics text; it bored him past endurance, it was like listening to somebody interminably recounting a long and stupid dream. He could not force himself to understand how banks functioned and so forth, because all the operations of capitalism were as meaningless to him as the rites of a primitive religion, as barbaric, as elaborate, and as unnecessary. In a human sacrifice to deity there might be at least a mistaken and terrible beauty; in the rites of the moneychangers, where greed, laziness, and envy were assumed to move all men's acts, even the terrible became banal. — Ursula K. Le Guin

It is no wonder that bank capital is regulated. When borrowing and lending is profitable, it is tempting for banks to scale up their operations and to borrow and lend too much in relation to their capital, in effect reducing the effectiveness of the potential capital cushion. — Evan Davis

Even the infamous 2002 Bali bombing mastermind, Imam Samudra from the al-Qaeda-linked terrorist group Jamaah Islamiyah, funded his attack in which more than 200 people were murdered with the $150,000 he obtained by hacking into Western bank accounts and credit lines. Samudra was technologically savvy and while in prison wrote an autobiographical manifesto containing a chapter titled "Hacking, Why Not?" In the book, Samudra shared his hacking and "carding" techniques with his disciples, encouraging them "to take the holy war into cyberspace by attacking U.S. computers, with the particular aim of committing credit card fraud, called 'carding,' " to fund operations. — Marc Goodman

Unlike traditional retailers, Amazon boasted what was called a negative operating cycle. Customers paid with their credit cards when their books shipped but Amazon settled its accounts with the book distributors only every few months. With every sale, Amazon put more cash in the bank, giving it a steady stream of capital to fund its operations and expansion.14 The company could also lay claim to a uniquely high return on invested capital. Unlike brick-and-mortar retailers, whose inventories were spread out across hundreds or thousands of stores around the country, Amazon had one website and, at that time, a single warehouse and inventory. Amazon's ratio of fixed costs to revenue was considerably more favorable than that of its offline competitors. In other words, Bezos and Covey argued, a dollar that was plugged into Amazon's infrastructure could lead to exponentially greater returns than a dollar that went into the infrastructure of any other retailer in the world. — Brad Stone

Dear Sir: My ten years of bank experience should be of interest to a rapidly growing bank like yours. In various capacities in bank operations with the Bankers Trust Company in New York, leading to my present assignment as Branch Manager, I have acquired skills in all phases of banking including depositor relations, credits, loans and administration. I will be relocating to Phoenix in May and I am sure I can contribute to your growth and profit. I will be in Phoenix the week of April 3 and would appreciate the opportunity to show you how I can help your bank meet its goals. Sincerely, — Dale Carnegie