Łódź, Poland

Banking

Bankowość

Bachelor's
Field of studies: Economics
Language: PolishStudies in Polish
Subject area: economy and administration
Kind of studies: part-time studies
Studies online Studies online
University website: www.puw.pl
Banking
We [Banks] have a "right to make a profit"
Brian Moynihan, CEO, Bank of America, 2011 statement. Source: Money.CNN.com October 5th, 2011.
Banking
The banks do create money. They have been doing it for a long time, but they didn't quite realise it, and they did not admit it. Very few did. You will find it in all sorts of documents, financial textbooks, etc. But in the intervening years, and we must all be perfectly frank about these things, there has been a development of thought, until today I doubt very much whether you would get many prominent bankers to attempt to deny that banks create credit.
H. W. White, Chairman of the Associated Banks of New Zealand, to the New Zealand Monetary Commission, 1955.
Banking
The process by which banks create money is so simple that the mind is repelled.
John Kenneth Galbraith, Money: Whence it came, Where it Went p. 29.
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