Quotessence
Home / Quotes / Quote by John Lanchester

Quote by John Lanchester

“It has been a masterful fight-back by the big banks. We the paying public can't do anything much except admit defeat and settle back for the next set of bills. In the meantime, perhaps, we should try and think of a name for the new economic system, which certainly isn't capitalism ... The most accurate term would probably be "bankocracy".”

Quote by John Lanchester

Create image

Author

John Lanchester
John Lanchester

John Lanchester is a British journalist born on February 25, 1962. Known for his insightful observations of contemporary society and culture, his work spans across novels, criticism, and reporting. more

You May Also Like

“Financial institutions have been merging into a smaller number of very large banks. Almost all banks are interrelated. So the financial ecology is swelling into gigantic, incestuous, bureaucratic banks-when one fails, they all fall. We have moved from a diversified ecology of small banks, with varied lending policies, to a more homogeneous framework of firms that all resemble one another. True, we now have fewer failures, but when they occur... I shiver at the thought.”

Has BeensFallNumbersFailingPolicyInstitutionsMovedFinancialFirmFewerEcologyFrameworkLendingShiverSwellingMergingFinancial InstitutionsHomogeneous
Author:Nassim Nicholas Taleb
Create image

“It is no accident that banks resemble temples, preferably Greek, and that the supplicants who come to perform the rites of deposit and withdrawal instinctively lower their voices into the registers of awe. Even the most junior tellers acquire within weeks of their employment the officiousness of hierophants tending an eternal flame.”

VoiceWeekEternalAccidentsEmploymentGreekFlamesAcquireAweTemplesBankingJuniorsBankersRegisterRiteWithdrawalDepositsBankers And Banks
Book:Money and Class in America: Notes and Observations on the Civil Religion
Create image