Dan Quayle: Deposit Bank Failure

Posted by admin on Thursday, June 10, 2021

Dan Quayle Money Quote saying that bank managers might break more successful at failing banks if only customers made bigger deposits. Dan Quayle said:
 
Bank failures are caused by depositors who don't deposit enough money to cover losses due to mismanagement Quote
 

“Bank failures are caused by depositors who don’t deposit enough money to cover losses due to mismanagement” — Dan Quayle

 

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In this quote, former U.S. Vice President Dan Quayle appears to be attempting humor but ends up placing partial blame on bank customers for financial institution failures. The implication seems to be that if depositors had provided banks with more funds as a cushion, losses from poor decisions or risky investments by bankers could be absorbed.

However, this interpretation neglects the fiduciary responsibility of banks to prudently manage deposited money.

Overall, while likely not intended seriously, the quote suggests an unrealistic expectation that customers alone can safeguard against all management errors, rather than regulators or banks themselves ensuring sufficient reserves and oversight to avoid insolvency regardless of deposit amounts.

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