Posts Tagged ‘trillions’

Linda Lacewell: Dirty Trillions

Posted by admin on Monday, September 21, 2020

Linda Lacewell Money Quote saying banks appear to ignore illicit funds flowing through their accounts after filing pointless required paperwork. Linda Lacewell said:
 

 

Trillions of dollars in dirty money gushes through the financial system in a toxic stew of criminal proceeds. Banks must put integrity at the center of what they do and empower compliance personnel to act. The SAR should be the beginning of the analysis not the end. We must act” — Linda Lacewell

 

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In this quote, Linda Lacewell seems to be strongly criticizing how financial institutions currently handle illicit funds flowing through the global economic system. By referring to “trillions of dollars in dirty money gushing through in a toxic stew of criminal proceeds”, Lacewell portrays the sheer scale of illegal funds being intermixed with legitimate wealth.

Her statements that “banks must put integrity at the center” and empower staff to thoroughly investigate suspicious transactions, rather than viewing SAR filings as the end point, conveys Lacewell’s perspective that more proactive policing of criminal financing is needed from within private sector organizations.

Overall, the quote portrays Lacewell’s view that the status quo is insufficient, and that banks must prioritize rooting out dirty money more aggressively through empowered compliance teams that see investigations as ongoing rather than cursory checkbox exercises. She appears to be advocating for reforming how the financial industry self-regulates regarding criminal financing.

 


 

Kurt Eichenwald: Tax Bill Trillions in Debt

Posted by admin on Monday, November 27, 2017

Kurt Eichenwald Money Quote saying Tax Bill being considered by Congress is likely to push the U.S. trillions further into debt crush what is best about America in order to benefit the rich. Kurt Eichenwald said:
 
trillions in debt, crippling Medicare. For what? Cause rich people really really promise THIS time to use dollars for jobs, when never did before? Quote
 

“If this tax bill is not stopped, it will be the end of the American era. Public education crushed, brain drain of advanced degrees, trillions in debt, crippling Medicare. For what? Cause rich people really really promise THIS time to use dollars for jobs, when never did before?” — Kurt Eichenwald

 

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This quote from Kurt Eichenwald strongly criticizes the tax reform bill passed in 2017. Some key points in interpreting his perspective:

  • Eichenwald argues the bill will devastate public education and drive up national debt dramatically without tangible benefits for average Americans.
  • He portrays it as prioritizing tax cuts for the wealthy over crucial services and programs that support social mobility and economic opportunity.
  • However, reasonable experts disagree on tax policy and its dynamic effects, as both opportunities and risks can emerge from reforms depending on implementation details and the economy.
  • A balanced interpretation is that while Eichenwald forcefully conveys his viewpoint, the best analysis considers this perspective alongside other reasonable positions. Knowledgeable analysts and policymakers will continue debating evidence-based solutions in good faith based on outcomes and priorities.

Overall, Eichenwald aims to underscore perceived shortcomings and risks he foresees. But the quote reflects one perspective in ongoing discussions around fiscal policy, where experts may interpret data differently yet work toward common goals of sustained prosperity, equity and fiscal responsibility through open-minded discussion. Multiple perspectives have merit in such complex, long-term policy debates.

Jamie Dimon: Move Trillions Digitally

Posted by admin on Friday, October 13, 2017

Jamie Dimon Money Quote saying He understands that banks deal in a digital form of currency every day. Jamie Dimon said:
 
We move trillions of dollars a day digitally. It's not cash Quote
 

“I was reminded that we move trillions of dollars a day … digitally. It’s not cash” — Jamie Dimon

 

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In this quote, Jamie Dimon is emphasizing how the vast majority of money exchanged in modern financial systems exists in digital form rather than physical cash. By stating that his bank moves “trillions of dollars a day…digitally” and clarifying “It’s not cash”, Dimon is pointing out how financial transactions are now mostly data entries, electronic fund transfers and accounting between ledgers, rather than physical handling of paper bills and coins.

The interpretation is that Dimon is drawing attention to the increasingly abstract, digital nature of money, where wealth exists as numbers rather than tangible currency notes. His message conveys how money has evolved into information that flows electronically in huge volumes daily through bank servers and networks globally, making the financial system reliant on technology infrastructure and data security.

Overall, Dimon appears to be acknowledging the transformation of money into digital code and bytes rather than its historic paper form in the context of the scale and speed of modern electronic banking and digital payment systems.

Donald Trump: U.S. Infrastructure Decay

Posted by admin on Friday, January 20, 2017

Donald Trump Money Quote saying in a dystopian view of America that everything is crumbling while we spend our dollars outside the U.S. and create other countries wealth. Donald Trump said:
 
[We] spent trillions and trillions of dollars overseas while America's infrastructure has fallen into disrepair and decay. We've made other countries rich while the wealth, strength, and confidence of our country has dissipated over the horizon Quote
 

“[We] spent trillions and trillions of dollars overseas while America’s infrastructure has fallen into disrepair and decay. We’ve made other countries rich while the wealth, strength, and confidence of our country has dissipated over the horizon” — Donald Trump

 

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In this quote, Donald Trump portrays the United States as having spent vast sums on foreign nations while neglecting domestic infrastructure needs, weakening national wealth and power. Some key points in interpreting his perspective:

  • He implies infrastructure deficits stem from misplaced priorities in spending on international goals rather than rebuilding roads, bridges and other public works.
  • Trump characterizes this as transferring resources overseas rather than investing in the U.S., which he says has eroded national prosperity and standing.

However, a balanced interpretation would note that infrastructure requires ongoing maintenance and most experts argue underfunding has been a chronic issue. It would also acknowledge that while global commitments have costs, they also yield economic and strategic benefits according to most analysts.

Overall, reasonable people can disagree on the complex trade-offs between domestic and international spending given budget constraints. The quote reflects Trump’s view but a full analysis considers multiple perspectives on these issues.

Paul Ryan: Raised Poor, Stay Poor

Posted by admin on Sunday, January 31, 2016

House Speaker Paul Ryan @SpeakerRyan Money Quotation saying that since inception, government safety net programs have not helped to elevate the poor or win the war on poverty. Paul Ryan said:
 
We’ve been fighting the War on Poverty for 50 years now. And I don’t think you can call it anything but a stalemate. The federal government has spent trillions of dollars Quote
 

“We’ve been fighting the War on Poverty for 50 years now. And I don’t think you can call it anything but a stalemate. The federal government has spent trillions of dollars. And yet today, if you were raised poor, you’re just as likely to stay poor as you were 50 years ago” — Paul Ryan

 

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In this quote, Paul Ryan is criticizing the effectiveness of the federal government’s decades-long “War on Poverty” programs in the United States. He notes that over 50 years and trillions of dollars spent, poverty rates remain largely unchanged – that is, those born into poor families are still just as likely to remain poor themselves.

Ryan implies this represents a “stalemate”, suggesting poverty alleviation efforts have stalled despite massive monetary investments.

The overall message of the quote seems to be that Ryan questions whether the government anti-poverty approach has truly made progress or if a different strategy is now warranted given lack of results relative to the resources allocated over many years.

Bernie Sanders: Risky Financial Instruments

Posted by admin on Thursday, December 17, 2015

Bernie Sanders Money Quotation saying any bank considered too large to fail should be broken up and investment activities curtailed. Bernie Sanders said:
 
In my view, if a bank is too big to fail, it is too big to exist. Wall Street cannot continue to be an island unto itself investing trillions in risky financial instruments Quote
 

“In my view, if a bank is too big to fail, it is too big to exist. Wall Street cannot continue to be an island unto itself investing trillions in risky financial instruments” — Bernie Sanders

 

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In this quote, Bernie Sanders highlights the vast disparity in wealth concentration in the United States. He notes that the collective net worth of just the richest 400 individuals is over $2.2 trillion, which exceeds the combined wealth of the bottom 150 million Americans – nearly half the population.

Sanders appears to be drawing attention to the issue of economic inequality by pointing out that a very small fraction of people at the top hold a greater amount of wealth than millions of families and individuals across the lower and middle classes combined.

The quote suggests Sanders believes wealth inequality has reached extreme levels in America, with a tiny minority controlling a disproportionate share of the nation’s total assets and resources.

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