--- title: "Meaning & Key Takeaway of: We have supported the banks, they should…" description: "\"We have supported the banks, they should be supporting the economy now.\" — George Osborne" image: "https://sms4smile.com/quotes/i/774/george-osborne-3998_banks_we-have-supported-the-banks-they-should_1002891.png" --- # We have supported the banks, they should be supporting the… ![“We have supported the banks, they should be supporting the economy now.” quote by George Osborne](https://sms4smile.com/quotes/i/774/george-osborne-3998_banks_we-have-supported-the-banks-they-should_1002891.png) [Download](https://sms4smile.com/quotes/i/774/george-osborne-3998_banks_we-have-supported-the-banks-they-should_1002891.png) [Open image](https://sms4smile.com/quotes/i/774/george-osborne-3998_banks_we-have-supported-the-banks-they-should_1002891.png) > “We have supported the banks, they should be supporting the economy now.” [George Osborne](https://sms4smile.com/quotes/author/george-osborne/) ## About This Quote This interpretation was drafted with AI assistance. It is one reading of the quote, not the author's own explanation. He argues that banks, having been supported, should now support the broader economy. **In simple terms:** Banks should help the economy after receiving aid. Key Takeaway Encourage banks to lend responsibly. Themes economics policy financial responsibility Mood critical concerned Type policy analytical When to use this quote - business loans - small business financing - public infrastructure projects Key Concepts banking stimulus economic recovery Questions to Reflect On - What incentives can align bank actions with public good? - How measure effective bank contributions? A Different Perspective Banks may prioritize profit over broader economic needs. ★ ★ ★ ★ ★ No ratings yet [Banks](https://sms4smile.com/quotes/about/banks/) [Economy](https://sms4smile.com/quotes/about/economy/) ## Related quotes > [We need to think deeply about whether we can sustain banks that are not only too big to fail, but potentially too big to…](https://sms4smile.com/quotes/george-osborne/we-need-to-think-deeply-about-whether-we-can-sustain-banks-that-are/) [George Osborne](https://sms4smile.com/quotes/author/george-osborne/) > [Banks are the temples of America. This is a holy war. Our economy is our religion.](https://sms4smile.com/quotes/giannina-braschi/banks-are-the-temples-of-america-this-is-a-holy-war-our-economy-is/) [Giannina Braschi](https://sms4smile.com/quotes/author/giannina-braschi/) > [No paper trail means no banks. And no banks means cash houses. -Mia](https://sms4smile.com/quotes/fast-five/no-paper-trail-means-no-banks-and-no-banks-means-cash-houses-mia/) Fast Five > [If your only arbiter of anything is money, really you should... go and rob banks.](https://sms4smile.com/quotes/bruce-dickinson/if-your-only-arbiter-of-anything-is-money-really-you-should-go-and/) [Bruce Dickinson](https://sms4smile.com/quotes/author/bruce-dickinson/) > [My father, Cecil Banks Mullis, and mother, formerly Bernice Alberta Barker, grew up in rural North Carolina in the foothills of the Blue Ridge…](https://sms4smile.com/quotes/kary-mullis/my-father-cecil-banks-mullis-and-mother-formerly-bernice-alberta/) [Kary Mullis](https://sms4smile.com/quotes/author/kary-mullis/) > [“The kind of data and the data-analytical perspective privy to banks is quite unique to banks.”](https://sms4smile.com/quotes/hendrith-vanlon-smith-jr-ceo-of-mayflower-plymouth/the-kind-of-data-and-the-data-analytical-perspective-privy-to-banks/) [Hendrith Vanlon Smith Jr, CEO of Mayflower-Plymouth](https://sms4smile.com/quotes/author/hendrith-vanlon-smith-jr-ceo-of-mayflower-plymouth/) > [In the old days we were the challenger brand competing against the big banks, but today I go round the world and I sit…](https://sms4smile.com/quotes/lloyd-dorfman/in-the-old-days-we-were-the-challenger-brand-competing-against-the/) [Lloyd Dorfman](https://sms4smile.com/quotes/author/lloyd-dorfman/) > [The world needs banking but it does not need banks.](https://sms4smile.com/quotes/bill-gates/the-world-needs-banking-but-it-does-not-need-banks/) [Bill Gates](https://sms4smile.com/quotes/author/bill-gates/) > [Much of what Germany and France have done in the rescue of Greece has also helped German and French banks, who for a long…](https://sms4smile.com/quotes/mario-monti/much-of-what-germany-and-france-have-done-in-the-rescue-of-greece-has/) [Mario Monti](https://sms4smile.com/quotes/author/mario-monti/) > [With post offices and postal workers already on the ground, USPS could partner with banks to make a critical difference for millions of Americans…](https://sms4smile.com/quotes/elizabeth-warren/with-post-offices-and-postal-workers-already-on-the-ground-usps-could/) [Elizabeth Warren](https://sms4smile.com/quotes/author/elizabeth-warren/) > [“The rich run a global system that allows them to accumulate capital and pay the lowest possible price for labour. The freedom that results…](https://sms4smile.com/quotes/charles-moore/the-rich-run-a-global-system-that-allows-them-to-accumulate-capital/) [Charles Moore](https://sms4smile.com/quotes/author/charles-moore/) > [My nightmare scenario is that the government saves Citibank once again, as well as the other banks, and business resumes as usual. Then, the…](https://sms4smile.com/quotes/nassim-nicholas-taleb/my-nightmare-scenario-is-that-the-government-saves-citibank-once/) [Nassim Nicholas Taleb](https://sms4smile.com/quotes/author/nassim-nicholas-taleb/) > [“Ever notice how the same politicians who claim to be against trickle-down economics have no problem bailing out banks and other politically connected businesses?”](https://sms4smile.com/quotes/colin-m-mcgroarty/ever-notice-how-the-same-politicians-who-claim-to-be-against-trickle/) [Colin M. McGroarty](https://sms4smile.com/quotes/author/colin-m-mcgroarty/) > [We now have power under the Dodd-Frank legislation to break up banks. And I've said I will use that power if they pose a…](https://sms4smile.com/quotes/hillary-clinton/we-now-have-power-under-the-dodd-frank-legislation-to-break-up-banks/) [Hillary Clinton](https://sms4smile.com/quotes/author/hillary-clinton/) > [What we prefer to do is operate our investment bank in a way that is like what investment banks used to be, which is…](https://sms4smile.com/quotes/warren-stephens/what-we-prefer-to-do-is-operate-our-investment-bank-in-a-way-that-is/) [Warren Stephens](https://sms4smile.com/quotes/author/warren-stephens/) ## More by George Osborne > [We will also target tax evasion and off-shore tax havens... Everyone must pay their share.](https://sms4smile.com/quotes/george-osborne/we-will-also-target-tax-evasion-and-off-shore-tax-havens-everyone/) [George Osborne](https://sms4smile.com/quotes/author/george-osborne/) > [There are plenty of people who don't want change - the Labour Party, some of their militant trade union friends like Unite busy causing…](https://sms4smile.com/quotes/george-osborne/there-are-plenty-of-people-who-don-t-want-change-the-labour-party/) [George Osborne](https://sms4smile.com/quotes/author/george-osborne/) > [You know the illusion of the cheap money is over and now Britain has to go out there and graft and earn its way…](https://sms4smile.com/quotes/george-osborne/you-know-the-illusion-of-the-cheap-money-is-over-and-now-britain-has/) [George Osborne](https://sms4smile.com/quotes/author/george-osborne/) > [Just as we should never balance the budget on the backs of the poor, so it is an economic delusion to think you can…](https://sms4smile.com/quotes/george-osborne/just-as-we-should-never-balance-the-budget-on-the-backs-of-the-poor/) [George Osborne](https://sms4smile.com/quotes/author/george-osborne/) > [Britain has no divine right to be one of the richest countries in the world.](https://sms4smile.com/quotes/george-osborne/britain-has-no-divine-right-to-be-one-of-the-richest-countries-in-the/) [George Osborne](https://sms4smile.com/quotes/author/george-osborne/) > [There is a big problem. The problem is the country borrowed too much. We went on a borrowing binge, there was a housing boom.…](https://sms4smile.com/quotes/george-osborne/there-is-a-big-problem-the-problem-is-the-country-borrowed-too-much/) [George Osborne](https://sms4smile.com/quotes/author/george-osborne/) > [Everyone in our society has had to make a contribution towards dealing with the debts.](https://sms4smile.com/quotes/george-osborne/everyone-in-our-society-has-had-to-make-a-contribution-towards/) [George Osborne](https://sms4smile.com/quotes/author/george-osborne/) > [Well British pension funds have not been investing the savings of British people in British infrastructure.](https://sms4smile.com/quotes/george-osborne/well-british-pension-funds-have-not-been-investing-the-savings-of/) [George Osborne](https://sms4smile.com/quotes/author/george-osborne/) > [Believe me, I understand that most higher rate taxpayers are not the super-rich.](https://sms4smile.com/quotes/george-osborne/believe-me-i-understand-that-most-higher-rate-taxpayers-are-not-the/) [George Osborne](https://sms4smile.com/quotes/author/george-osborne/) > [The positive news is that the British economy is continuing to grow and is creating jobs. And it is positive news too that at…](https://sms4smile.com/quotes/george-osborne/the-positive-news-is-that-the-british-economy-is-continuing-to-grow/) [George Osborne](https://sms4smile.com/quotes/author/george-osborne/) > [No other chancellor in the long history of the office has felt the need to pass a law in order to convince people he…](https://sms4smile.com/quotes/george-osborne/no-other-chancellor-in-the-long-history-of-the-office-has-felt-the/) [George Osborne](https://sms4smile.com/quotes/author/george-osborne/) > [I think you can look at the British economy with confidence.](https://sms4smile.com/quotes/george-osborne/i-think-you-can-look-at-the-british-economy-with-confidence/) [George Osborne](https://sms4smile.com/quotes/author/george-osborne/) > [Every day as Chancellor I see alerts telling me of risks around the world.](https://sms4smile.com/quotes/george-osborne/every-day-as-chancellor-i-see-alerts-telling-me-of-risks-around-the/) [George Osborne](https://sms4smile.com/quotes/author/george-osborne/) > [Tax cuts should be for life, not just for Christmas.](https://sms4smile.com/quotes/george-osborne/tax-cuts-should-be-for-life-not-just-for-christmas/) [George Osborne](https://sms4smile.com/quotes/author/george-osborne/) > [The rise in world oil prices has been larger than anyone forecast.](https://sms4smile.com/quotes/george-osborne/the-rise-in-world-oil-prices-has-been-larger-than-anyone-forecast/) [George Osborne](https://sms4smile.com/quotes/author/george-osborne/) [Explore all 118 George Osborne quotes ](https://sms4smile.com/quotes/author/george-osborne/) ## More Banks quotes > [What we prefer to do is operate our investment bank in a way that is like what investment banks used to be, which is…](https://sms4smile.com/quotes/warren-stephens/what-we-prefer-to-do-is-operate-our-investment-bank-in-a-way-that-is/) [Warren Stephens](https://sms4smile.com/quotes/author/warren-stephens/) > [We now have power under the Dodd-Frank legislation to break up banks. And I've said I will use that power if they pose a…](https://sms4smile.com/quotes/hillary-clinton/we-now-have-power-under-the-dodd-frank-legislation-to-break-up-banks/) [Hillary Clinton](https://sms4smile.com/quotes/author/hillary-clinton/) > [“Ever notice how the same politicians who claim to be against trickle-down economics have no problem bailing out banks and other politically connected businesses?”](https://sms4smile.com/quotes/colin-m-mcgroarty/ever-notice-how-the-same-politicians-who-claim-to-be-against-trickle/) [Colin M. McGroarty](https://sms4smile.com/quotes/author/colin-m-mcgroarty/) > [My nightmare scenario is that the government saves Citibank once again, as well as the other banks, and business resumes as usual. Then, the…](https://sms4smile.com/quotes/nassim-nicholas-taleb/my-nightmare-scenario-is-that-the-government-saves-citibank-once/) [Nassim Nicholas Taleb](https://sms4smile.com/quotes/author/nassim-nicholas-taleb/) > [“The rich run a global system that allows them to accumulate capital and pay the lowest possible price for labour. The freedom that results…](https://sms4smile.com/quotes/charles-moore/the-rich-run-a-global-system-that-allows-them-to-accumulate-capital/) [Charles Moore](https://sms4smile.com/quotes/author/charles-moore/) > [With post offices and postal workers already on the ground, USPS could partner with banks to make a critical difference for millions of Americans…](https://sms4smile.com/quotes/elizabeth-warren/with-post-offices-and-postal-workers-already-on-the-ground-usps-could/) [Elizabeth Warren](https://sms4smile.com/quotes/author/elizabeth-warren/) > [Much of what Germany and France have done in the rescue of Greece has also helped German and French banks, who for a long…](https://sms4smile.com/quotes/mario-monti/much-of-what-germany-and-france-have-done-in-the-rescue-of-greece-has/) [Mario Monti](https://sms4smile.com/quotes/author/mario-monti/) > [The world needs banking but it does not need banks.](https://sms4smile.com/quotes/bill-gates/the-world-needs-banking-but-it-does-not-need-banks/) [Bill Gates](https://sms4smile.com/quotes/author/bill-gates/) > [Banks are the temples of America. This is a holy war. Our economy is our religion.](https://sms4smile.com/quotes/giannina-braschi/banks-are-the-temples-of-america-this-is-a-holy-war-our-economy-is/) [Giannina Braschi](https://sms4smile.com/quotes/author/giannina-braschi/) > [In the old days we were the challenger brand competing against the big banks, but today I go round the world and I sit…](https://sms4smile.com/quotes/lloyd-dorfman/in-the-old-days-we-were-the-challenger-brand-competing-against-the/) [Lloyd Dorfman](https://sms4smile.com/quotes/author/lloyd-dorfman/) > [“The kind of data and the data-analytical perspective privy to banks is quite unique to banks.”](https://sms4smile.com/quotes/hendrith-vanlon-smith-jr-ceo-of-mayflower-plymouth/the-kind-of-data-and-the-data-analytical-perspective-privy-to-banks/) [Hendrith Vanlon Smith Jr, CEO of Mayflower-Plymouth](https://sms4smile.com/quotes/author/hendrith-vanlon-smith-jr-ceo-of-mayflower-plymouth/) > [My father, Cecil Banks Mullis, and mother, formerly Bernice Alberta Barker, grew up in rural North Carolina in the foothills of the Blue Ridge…](https://sms4smile.com/quotes/kary-mullis/my-father-cecil-banks-mullis-and-mother-formerly-bernice-alberta/) [Kary Mullis](https://sms4smile.com/quotes/author/kary-mullis/) > [If your only arbiter of anything is money, really you should... go and rob banks.](https://sms4smile.com/quotes/bruce-dickinson/if-your-only-arbiter-of-anything-is-money-really-you-should-go-and/) [Bruce Dickinson](https://sms4smile.com/quotes/author/bruce-dickinson/) > [No paper trail means no banks. And no banks means cash houses. -Mia](https://sms4smile.com/quotes/fast-five/no-paper-trail-means-no-banks-and-no-banks-means-cash-houses-mia/) Fast Five > [I did something that challenged the banking world. Conventional banks look for the rich; we look for the absolutely poor. All people are entrepreneurs,…](https://sms4smile.com/quotes/muhammad-yunus/i-did-something-that-challenged-the-banking-world-conventional-banks/) [Muhammad Yunus](https://sms4smile.com/quotes/author/muhammad-yunus/) [Browse all 387 Banks quotes ](https://sms4smile.com/quotes/about/banks/) ```json { "@context": "https://schema.org", "@graph": [ { "@type": "Quotation", "text": "We have supported the banks, they should be supporting the economy now.", "creator": { "@type": "Person", "name": "George Osborne" }, "isPartOf": { "@id": "https://sms4smile.com/quotes/#website" }, "url": "https://sms4smile.com/quotes/george-osborne/we-have-supported-the-banks-they-should-be-supporting-the-economy-now/", "about": { "@type": "Thing", "name": "Banks" }, "@id": "https://sms4smile.com/quotes/george-osborne/we-have-supported-the-banks-they-should-be-supporting-the-economy-now/#quotation", "image": { "@type": "ImageObject", "@id": "https://sms4smile.com/quotes/i/774/george-osborne-3998_banks_we-have-supported-the-banks-they-should_1002891.png", "contentUrl": "https://sms4smile.com/quotes/i/774/george-osborne-3998_banks_we-have-supported-the-banks-they-should_1002891.png", "url": "https://sms4smile.com/quotes/i/774/george-osborne-3998_banks_we-have-supported-the-banks-they-should_1002891.png", "width": 1080, "height": 1080, "caption": "“We have supported the banks, they should be supporting the economy now.” — George Osborne", "creditText": "SMS4Smile Quotes", "creator": { "@id": "https://sms4smile.com/quotes/#organization" } } }, { "@type": "BreadcrumbList", "itemListElement": [ { "@type": "ListItem", "position": 1, "name": "Home", "item": "https://sms4smile.com/" }, { "@type": "ListItem", "position": 2, "name": "Quotes", "item": "https://sms4smile.com/quotes/" }, { "@type": "ListItem", "position": 3, "name": "George Osborne", "item": "https://sms4smile.com/quotes/author/george-osborne/" }, { "@type": "ListItem", "position": 4, "name": "We have supported the banks, they...", "item": "https://sms4smile.com/quotes/george-osborne/we-have-supported-the-banks-they-should-be-supporting-the-economy-now/" } ], "@id": "https://sms4smile.com/quotes/george-osborne/we-have-supported-the-banks-they-should-be-supporting-the-economy-now/#breadcrumb" }, { "@type": "WebSite", "@id": "https://sms4smile.com/quotes/#website", "name": "SMS4Smile Quotes", "url": "https://sms4smile.com/quotes/", "publisher": { "@id": "https://sms4smile.com/quotes/#organization" } }, { "@type": "Organization", "@id": "https://sms4smile.com/quotes/#organization", "name": "SMS4Smile Quotes", "url": "https://sms4smile.com/quotes/", "logo": { "@type": "ImageObject", "url": "https://sms4smile.com/quotes/wp-content/themes/sq/assets/icons/icon-512.png", "width": 512, "height": 512 } } ] } ```