Gary Weiss Quotes

I established my bank in 1988.

The history of Wall Street is inseparable from New York.

Securitization was one of the most brilliant financial innovations of the 20th century. It freed up a lot of capital. If it had been done responsibly, it would have been a wondrous thing because nothing is more stable, there’s nothing safer, than the American mortgage market.... It worked for years. But then people realized they could scam it.

We don't have sales trading, brokerage, capital lending - any of those kinds of things that got some of the Wall Street firms a little bit in trouble.

If anything, the bailouts actually hindered lending, as banks became more like house pets that grow fat and lazy on two guaranteed meals a day than wild animals that have to go out into the jungle and hunt for opportunities in order to eat.

Once the brokerage house, rather than the bank, became the locus for American savings, that money would find its way into the stock market, because the broker was someone with a much higher tolerance for risk than the banker.

I did a couple of American Express commercials.

Well, WorldCom's growth exploded in the Clinton years, there's no question, there's no disputing that.

An interesting thing happened in 1989, right as I was graduating: the stock market crashed and really changed the landscape of the art world in New York. It made the kind of work I was doing interesting to galleries that wouldn't have normally been interested in it.

I am not in the business of pointing fingers or making excuses. However, recent history has shown that I, like thousands of others in Ireland, incorrectly relied upon the persons who guided Anglo and who wrongfully sought to portray a 'blue chip' Irish banking sector.

I am president of Russian Standard Company, biggest luxury vodka in Russia. My bank, Russian Standard Bank, issues biggest number of credit cards in Russia. I want for Russian people to have their own best vodka, their own best bank, their own best credit card.

Only institutions that go about the old-fashioned business of taking in deposits from customer A and lending them out to customer B should be called banks. The rest should call themselves what they are. 'Parlors' would be appropriate, or 'dens' - words more suitable to venerable betting pursuits.

AOL was a roller coaster ride. I was lucky and privileged to be a part of it, both the ups and the downs.

Partnering with CNBC will allow Yahoo! Finance to expand its offerings instantly and enhance its position as the most viewed and utilized finance site in the world.

Merrill Lynch is this hugely prestigious brand.

For the Amex, which has been casting around for a role for itself, microcaps fill a crucial void - a 'niche' that Amex officials feel has been neglected.

If you think Wall Street has a short memory, you're dead wrong. No, the folks who work on Wall Street, regulate Wall Street - and, above all, invest in its wares, notably its hedge funds - don't have a bad memory. They don't have any memory at all.

I do not dislike your bank any more than all banks.

The Commission concludes that, as massive losses spread throughout the financial system …, many institutions failed, or would have failed but for government bailouts. As panic gripped the market, credit markets seized up, trading ground to a halt, and the stock market plunged. Lack of transparency contributed greatly to the crisis: the exposures of financial institutions to risky mortgage assets and other potential losses were unknown to market participants, and indeed many firms did not know their own exposures.

The Wall Street crash doesn't mean that there will be any general or serious business depression... For six years American business has been diverting a substantial part of its attention, its energies and its resources on the speculative game... Now that irrelevant, alien and hazardous adventure is over. Business has come home again, back to its job, providentially unscathed, sound in wind and limb, financially stronger than ever before.

We just went through the biggest housing bubble in history and now housing prices are starting to go up again. I don’t know what to make of that.

We are optimistic with respect to thrifts .... I don't think that there is any cause for undue concern and I would reject any suggestion that we are in the midst of some sort of a major systemic problem with respect to any element of our financial services industry.

That decision will in history be written as the biggest mistake that American administration ever made, because Lehmans was a world investment bank. They had testicles everywhere.

ICICI Group has always been a catalyst in India's growth and continues to support the country in every sphere.

I think India's growth itself will give opportunities for Indian banks to become substantially bigger.