Mark Sundeen: Wall Street Felons

Meaning of Mark Sundeen Money Quote: saying We complain about the felons of Wall Street, but keep them in control by paying them. Mark Sundeen said:
 

 

“Grumble as we might about Wall Street felons, we keep the banks in business by lending them our money, paying their interest on mortgages and credit cards, and amassing our savings in their IRAs and money-market accounts” — Mark Sundeen

Mark Sundeen seems to be pointing out that despite complaints about unethical behavior by some in the financial industry, average citizens continue to support and fund the major banks through various financial activities.

By taking out loans like mortgages and credit cards that charge interest, keeping savings in retirement accounts at these institutions, and depositing money in bank accounts, people are essentially “lending” their money to the banks and keeping them in business.

So even while some banks engage in illegal behavior, the general public still relies heavily on these financial companies for various services and products. Sundeen’s quote suggests this ongoing financial patronage is what really allows the banks to maintain their prominent role in the economy, more so than any displeasure voiced about their actions on Wall Street.

Haruki Murakami: Owe Nothing

Meaning of Haruki Murakami Money Quote: saying it is best to avoid taking money and better to be the lender so you don’t owe anyone. Haruki Murakami said:
 

 

“No, I don’t want your money. The world moves less by money than by what you owe people and what they owe you. I don’t like to owe anybody anything, so I keep to myself as much on the lending side as I can” — Haruki Murakami

In this quote, Haruki Murakami seems to be expressing his views on interpersonal obligations and independence. Some key points:

• He states that he does not want others’ money, implying a preference for self-sufficiency over being financially beholden or indebted to others.
• Murakami acknowledges that the world is shaped as much or more by the “debts” people owe one another (both emotional and tangible favors/assistance exchanged) as it is by monetary transactions alone.
• He conveys a desire to avoid owing anything substantial to anyone so as to maintain autonomy and agency in his dealings with others.
• Murakami also prefers limiting how much he extends to others financially or otherwise so that his own independence and freedom of action are not compromised.

Overall, the quote portrays Murakami’s philosophy of self-reliance through minimizing debts of any kind that could be incurred or collected on either side of social exchanges, allowing him to move through the world without significant obligations to or power over from other individuals. His aim seems to be conducting affairs freely without being beholden or subject to undue influence from monetary or social credits with others.

Doris Lessing: Lending is Stealing

Doris Lessing Money Quote saying lenders are as good as thieves, stealing with interest. Doris Lessing said:
 

 

“Borrowing is not much better than begging; just as lending with interest is not much better than stealing” — Doris Lessing

In this quote, Doris Lessing is drawing a parallel between borrowing/lending money and related but less socially acceptable behaviors. She suggests that borrowing from others is not much different than begging, as it still relies on receiving something of value from another without immediate compensation.

Similarly, lending money with the expectation of interest payments in return is comparable to stealing, as it involves profiting from another’s temporary need or lack without providing an equal service in exchange.

Lessing appears to be criticizing the practice of charging interest on loans as a means of deriving unearned income from those in difficult financial situations.

A deeper interpretation is that she saw both borrowing and lending with interest as exploiting power imbalances for personal gain in ways that are only marginally better than the more openly undesirable acts of begging and stealing.

Birthday: October 22, 1919 – Death: November 17, 2013

John Ruskin: Live Lending People

John Ruskin Money Quote saying everyone cannot be a banker to everyone else. John Ruskin said:
 

 

“People cannot live by lending money to one another” — John Ruskin

John Ruskin seems to be criticizing the idea that an economy can be based solely on lending money between individuals and businesses. Ruskin appears to be suggesting that for people to truly “live,” the economy needs to be based on real production, trade, and the creation of goods and services, not just financial transactions like lending.

The best interpretation would be that societies cannot thrive in the long run if their economic systems are centered around accumulating wealth through interest and debt, rather than creating real value through work, innovation, and mutually beneficial exchange.

Birthday: February 8, 1819 – Death: January 20, 1900

Proverbs: Rich Rule & Borrower Serves

Proverbs, 22:7 Bible Money Quote saying wealth has servants who owe payments on their loans to those with riches which they serve. Proverbs, 22:7 said:
 

 

“The rich is the one that rules over those of little means, and the borrower is servant to the man doing the lending” — Proverbs, 22:7

This verse from Proverbs is conveying two related ideas:

1. It suggests that those who are wealthy have power and influence over those who have few possessions or little wealth. The rich “rule over” the poor in society.
2. It reinforces the message from the previous verse discussion that borrowing places one in a position of subservience or obligation to the lender. As long as any debt is owed, the borrower essentially becomes the “servant” of the creditor they borrowed from.

The verse portrays the imbalance of power between the rich ruler and poor subject, and debtor and creditor. It cautions that borrowing can compromise one’s independence and autonomy if one is beholden to a lender as their creditor. Overall it comments on how wealth and debt affect social and economic relationships of power.

Mike Rowe: Kids Can’t Pay College Loans

Mike Rowe Money Quote saying student loans are paying for education of kids who can’t find work to pay back loans. Mike Rowe said:
 

 

“We’re lending money we don’t have to kids who can’t pay it back to train them for jobs that no longer exist. That’s nuts” — Mike Rowe

In this quote, Mike Rowe is sharply criticizing the current system of student loans in the United States. He argues that it is financially unsustainable and misguided to lend large sums of money that we don’t actually have in funds to students who often lack clear pathways to repay those loans.

Rowe also believes many students are accumulating debt to pursue degrees that may not lead to real jobs, given changes in the labor market. His view is that lending enormous amounts on the assumption that any college degree automatically equals career success is a flawed approach that will inevitably lead to problems (“That’s nuts”).

Overall, Rowe appears to be calling the sustainability and efficacy of the student loan system into question, suggesting it sets up both students and taxpayers for potential hardship without adequate job opportunities or return on investment.