Home Banking & Finance Financial quotes of the month

Financial quotes of the month

by Executive Editors

“I am afraid that the profits of the local banks will fall by 25 percent at the end of the year”

Byblos Bank Chairman François Bassil

“It is not collapsing, but it is on the verge of collapse. The loss of income from oil there is approaching $45-50 billion by the year’s end.”

Israeli Finance Minister Yuval Steinitz on Iran’s economy

“In Beirut, we are operating at 55 percent of last year’s business. I won’t even discuss the situation in [Mount Lebanon], which is simply disastrous.”

Pierre Achkar, head of the Lebanon’s Hotels Association

“Does anybody out there think that the big problem we had is there was too much oversight and regulation of Wall Street? Because if you do, then Governor Romney is your candidate.”

United States President Barack Obama during the first US presidential debate

“This is the biggest kiss that’s been given to New York banks that I’ve ever seen.”

US presidential candidate Mitt Romney, during the first presidential debate, on the Dodd-Frank regulation established after the financial crisis

“This is also vital to continue dealing normally with the United States and international banks and avoid being subject to fines of up to 30 percent tax… on transfers from the US.”

Joseph Torbey, head of the Lebanese Banks Association, on banks’ compliance with the US’ Foreign Account Tax Compliance    Act (FATCA)

“Argentina isn’t a football team but a sovereign nation.”

Argentina’s president Cristina Fernandez de Kirchner following head of IMF Christine Lagarde’s “red card” threat to Argentina if it does not improve the reliability of its data

The United States Anti-Doping Agency (USDA) regarding Lance Armstrong, the seven-time Tour de France winner now stripped of his titles:“The evidence shows beyond any doubt that the US Postal Service Pro Cycling Team ran the most sophisticated, professionalized and successful doping program that sport has ever seen.”

“Sometimes you have to be really high to see how small you really are. I’m going home now.”

Felix Baumgartner, an Austrian skydiver, who set the world record for skydiving an estimated 39 kilometers and breaking the speed of sound

“The quickest way to make money on Wall Street is to take the most sophisticated product and try to sell it to the least sophisticated client.”

Greg Smith, a former Goldman Sachs employee, who published a book entitled “Why I left Goldman Sachs”

“There have been increasing efforts to carry out cyber attacks on Israel’s computer infrastructure.”

Israeli prime minister Benjamin Netanyahu
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