Bankers Quote by Nassim Nicholas Taleb
“Banks have never made money in the history of banking, losing the equivalent of all their past profits periodically - while bankers strike it rich.”
About This Quote
Source Interview: “The Black Swan” discussion, 2007
Banking profits are eroded by systemic losses, yet bankers profit personally, highlighting a mismatch between institutional performance and individual gain.
In simple terms: Banks lose money while bankers get rich.
Key Takeaway
Beware of systemic risk and misaligned incentives.
Themes
risk
misaligned incentives
financial ethics
Mood
cautious
critical
Type
analytical
financial
When to use this quote
- investment decisions
- regulatory policy
- personal finance
- corporate governance
Key Concepts
economics
systemic risk
behavioral finance
Questions to Reflect On
- How can we align bank incentives with societal good?
- What reforms could reduce this disparity?
A Different Perspective
The statement oversimplifies complex financial mechanisms and ignores profitable banking models.
![“What I think is bugging this guy [Steven Lerner] is the belief that debt - forced debt upon middle-class people, students (i.e., student loans and so forth) - has made Wall Street bankers and financial people excessively, unfairly, out-of-proportionally rich.” quote by Rush Limbaugh](https://sms4smile.com/quotes/img-quotes/f15/rush-limbaugh-28_bankers_what-i-think-is-bugging-this-guy-steven_28590.jpg)
