Posts Tagged ‘philippe ries’

Philippe Riès: Owe Million Pounds

Posted by admin on Tuesday, May 23, 2023

Meaning of Philippe Riès Money Quote: saying owing small amounts to banks means imprisonment, while large amounts means board seats. Philippe Riès said:

 
ten pounds to the Bank of England, you get thrown in jail, but if you owe a million pounds, they invite you to sit on the Board Quote
 

“If you owe ten pounds to the Bank of England, you get thrown in jail, but if you owe a million pounds, they invite you to sit on the Board” — Philippe Riès

 

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This quote from Philippe Riès suggests that the banking system treats large debtors very differently than smaller ones. Some key points in interpreting his perspective:

  • Riès implies that owing a small, personal debt to a bank could result in imprisonment, while being a million pound debtor is rewarded with an esteemed board position.
  • He portrays a double standard where individual borrowers face punishment for minor defaults but massive corporate debts are managed more collaboratively.
  • Riès’ perspective reflects a cynical view that the level of debt influences whether one is seen as a criminal or a valued partner, with wealthier debtors wielding disproportionate influence.

However, a balanced interpretation is that banks reasonably take a more collaborative approach to support large business loans that employ many versus individual accounts, and reasonable reforms aim to balance equitable treatment, financial stability and opportunity. The quote conveys Riès’ skepticism but the complex realities of banking require open discussion and evidence-based policies balancing multiple priorities in good faith.

Overall, while reflecting one perspective, the best analysis considers this viewpoint alongside other reasonable positions in ongoing discussions around optimizing consumer protections and economic growth.

Philippe Riès: Owe Millions On Board

Posted by admin on Friday, April 27, 2018

Philippe Riès Money Quote saying Bank treats those who owe little as though they are small, like their loans. Large borrowers are treated better and given board seats. Philippe Riès said:
 
If you owe ten pounds to the Bank of England, you get thrown in jail, but if you owe a million pounds, they invite you to sit on the Board Quote
 

“If you owe ten pounds to the Bank of England, you get thrown in jail, but if you owe a million pounds, they invite you to sit on the Board” — Philippe Riès

 

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In this quote, Philippe Riès is drawing attention to the disparity in how people are treated by financial institutions based on how much money they owe. Some key points:

  • He notes that owing a small amount (ten pounds) can result in jail time if one fails to repay their debt to the Bank of England.
  • However, owing a much larger sum (a million pounds) not only avoids punishment but gains privileges, as the debtor would be invited to sit on the Bank’s board of directors.
  • Riès implies that within the financial system, high debt taken on by large institutions or wealthy elites is often bailed out or forgiven, while ordinary citizens face stricter consequences for much smaller debts.
  • The quote criticizes the double standard of how the powerful are afforded leniency and influence indecision-making that affects them financially, unlike other debtors.

Overall, Riès’ observation speaks to the inequitable treatment and “too big to fail” policies that privilege the economic elite even when heavily indebted, compared to harder stances applied to most citizens in similar situations of owing money.

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