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Banking is necessary - banks are not.
-Bill Gates
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Banking Is Necessary - Banks Are Not.

Bill Gates
Banking is necessary - banks are not.
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Topic
Banking

More From Bill Gates

One nation banking recognises that banks must not be isolated from the rest of the economy. because banks and small businesses must succeed or fail together, banks must lend to small businesses so we can get the growth and jobs we need for the future. as things stand, that is not happening enough. lending was down £10.8billion last year.
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I suggested a compromise to give the banks a year's time and see if they succeed in showing us that nationalization wasn't necessary. the year went by and we realized it hadn't done any good, that the money still ended up in the hands of the rich industrialists or friends of the bankers. so i concluded that it was necessary to nationalize the banks. and we did. without considering it a socialist gesture or an antisocialist gesture, just a necessary one. anyone who nationalizes only so as to be considered on the left to me is a fool.
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And the banks - hard to believe in a time when we're facing a banking crisis that many of the banks created - are still the most powerful lobby on capitol hill. and they frankly own the place.
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Banks don't want certain asset classes, and that's created opportunities for private equity, hedge funds, silicon valley. in this case i think he was referring to some of the european banks shedding assets, and the big buyers are probably not going to be big american banks. someone like blackstone may have a very good chance to buy those assets, leverage them, borrow up a little bit, and do something good there.
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It does not stand to give banks millions of dollars at an interest rate of one percent, when banks charge students an interest rate of 6 percent. why should the banks be scalping students?
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Here's hillary clinton getting away with tying the republicans to rich people. she's tying the republican party to wall street, to the big banks. she's tying the republican party to the financial crisis in 2008. it's all their fault. she's tying herself as with the low-income crowd - and the average, ordinary middle class american - as their champion, as their defender. they don't know that it's not the republicans in bed with banks. they don't know that it's the banks that are practically paying for and underwriting the democrat party and hillary clinton today.
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