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Quotes of the Month

"The maximum size is that at which it is still possible to maintain the unique culture of this organization and to manage our risks"
Michel Pébereau, chairman, wants BNP Paribas to be one of the world’s biggest banks – but not at any price

(see BNP Paribas: The model that worked)

"Government assistance [as] representing the difference between the actually achieved margins during stressed market conditions and the margins that would have been achieved under normal market conditions"

A statement from Qatar’s Al-Khaliji Bank on how a government cash injection maintained the banks’ profitability in the second quarter of 2009

(see David Proctor: The banker who can’t get out of Qatar)

"I did not run for office to be helping out a bunch of, you know, fat cat bankers on Wall Street. [...] They’re still puzzled, why is it that people are mad at the banks. Well, let’s see. You guys are drawing down $10, $20 million bonuses after America went through the worst economic year that it’s gone through in decades, and you guys caused the problem. And we’ve got 10% unemployment. Why do you think people might be a little frustrated? [...]

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