“The art of banking is always to balance the risk of a run with the reward of a profit. The tantalizing factor in the equation is that riskier borrowers pay higher interest rates. Ultimate safety - a strongbox full of currency - would avail the banker nothing. Maximum risk - a portfolio of loans to prospective bankrupts at usurious interest rates - would invite disaster. A good banker safely and profitably treads the middle ground.”
Quote by James Grant
Author
James Grant
James Grant, born in 1946, is an accomplished writer whose works span various literary genres, known for his profound insights and rich imagination. more
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