Martin Mayer: Twilight of Banks

Posted by admin on Sunday, June 20, 2010

Martin Mayer in a money quote discussing bankers and banking redefined. The banking and mortgage crisis of 2008 illuminated the chaos happening within banks and on Wall Street. Mayer is a Prolific finance author   who has also written about the failure of the savings and loans.
 
This is the twilight of the banks. It would be a more cheerful spectacle if we could envision the dawn of the institutions that will replace them Quote
 

“This is the twilight of the banks. It would be a more cheerful spectacle if we could envision the dawn of the institutions that will replace them” — Martin Mayer

 

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In this quote, Martin Mayer is expressing a view that the era of banks as the dominant financial institutions is coming to an end. By calling it “the twilight of the banks”, he suggests the banks’ period of greatest influence and power is setting, like the sun at dusk.

Mayer also implies this decline is not necessarily negative, stating it would be “more cheerful” if we could envision what types of organizations might replace banks in the future.

Overall, Mayer means that significant change is coming to the financial industry, with banks losing their primacy to emerging forms of financial services and companies. His quote reflects a belief that new dawn, or beginning, for alternative financial institutions is approaching as banks fade out of their prime position.

Birthday: June 10, 1923 – Death November 28, 2016

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