Umair Haque: Banks Need People

Posted by admin on Sunday, April 28, 2019

Umair Haque Money Quote saying in reference to the Irish Banking Strike of 1970 that people went on banking – with each other instead. Umair Haque said:
Maybe, just maybe, banks need people a lot more than people need banks Quote

“Maybe, just maybe, banks need people a lot more than people need banks” — Umair Haque


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In this quote, Umair Haque is challenging the conventional view that banks are indispensable institutions that people rely on, suggesting the opposite may be true.
Haque argues that while banks present themselves as necessary providers of financial services, in reality people have basic economic needs that banks only facilitate but are not essential to fulfill.

By stating banks may need people more than people need banks, Haque implies that banks depend on having customers and generating revenue from people’s financial activities. However, people would still find ways to conduct transactions, obtain credit and save money even without banks as intermediaries.

Overall, the quote aims to shift the power dynamic by asserting that banks thrive by serving people’s monetary requirements, but may be more replaceable institutions than they portray, since economic exchange would continue between individuals without banks as middlemen. Haque questions who truly holds more leverage in the banker-customer relationship.

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