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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.
James Buchan
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"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."
— James Buchan #moneywealth

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At the heart of banking is a suicidal strategy. Banks take money from the public or each other…

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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. — James Buchan

About James Buchan

James Buchan was a Novelist from British (1958–present).

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Frequently Asked Questions

Who said "At the heart of banking is a suicidal strategy. Banks take money from the publi…"?
This quote is attributed to James Buchan, a Novelist from British.
When did James Buchan live?
James Buchan lived from 1958 – present.
What is this quote about?
This quote touches on Money & Wealth. Browse more quotes on these themes from the categories page.