Banker Retirement Quotes

You know the trouble with this part of the world? It’s full of retired bankers and lawyers with too much time on their hands.

No, I mean I'm sorry that you've inherited such a miserable, collapsing Old Country. A place where rich Bankers own everything, where you've got to be grateful for a part-time job with no benefits and no retirement plan, where the most health insurance you can afford is being careful and hoping you don't get sick, where --

It doesn’t have to be this way. Consider retirement. After a lifetime playing a certain role—banker, journalist, waiter—we’re suddenly stripped of this identity. Who are we then? Maybe, like Ivan Ilyich in Tolstoy’s novella, we come to the realization our life has been a lie—and, worse, one we told ourselves. Confronted with finitude, we’re more willing to discard our roles, like an actor stepping out of character as soon as the show is over. We might, like Ivan, experience a moment of liberation, even if it comes too late.

We will revisit the effects of sleep loss on emotional stability and other brain functions in later chapters when we discuss the real-life consequences of sleep loss in society, education, and the workplace. The findings justify our questioning of whether or not sleep-deprived doctors can make emotionally rational decisions and judgments; under-slept military personnel should have their fingers on the triggers of weaponry; overworked bankers and stock traders can make rational, non-risky financial decisions when investing the public’s hard-earned retirement funds; and if teenagers should be battling against impossibly early start times during a developmental phase of life when they are most vulnerable to developing psychiatric disorders.

But what about the spot brokers themselves? A few drifted to banks where they became traders or, more commonly, salesmen. Some simply retired or found work outside finance. Anecdotally, a number of them became London black-cab drivers. In around 2003 I met one who had done just that. I struck up a conversation with him as he took me home from the office; his name was Mickey. ‘I used to be a spot broker,’ he told me after he found out where I worked, ‘it was great.’ We reminisced for a while about the way the FX market had been, then, as we approached my street, he said, a little sadly, ‘But it had to end, we couldn’t beat the computers – they ate us all alive.’ We arrived outside my house where I got out and paid him. As he began to drive off, he slowed down and shouted back at me, ‘They ate us alive – and they’ll do it to everyone!’ With that, he turned the corner and drove out of sight.

Maj. Gen. Smedley D. Butler, often regarded as the most famous decorated US army officer of the early twentieth century, wrote a book after World War I aptly called War Is a Racket. Upon retirement in the 1930s, he gave speeches around the country to spread his message—a message that sheds light upon the hidden internal dialogue underlying US military history. In 1935, Butler boldly stated: I spent 33 years and four months in active military service and during that period I spent most of my time as a high class muscle man for Big Business, for Wall Street and the bankers. In short, I was a racketeer, a gangster for capitalism. I helped make Mexico and especially Tampico safe for American oil interests in 1914. I helped make Haiti and Cuba a decent place for the National City Bank boys to collect revenues in. I helped in the raping of half a dozen Central American republics for the benefit of Wall Street. I helped purify Nicaragua for the International Banking House of Brown Brothers in 1902–1912. I brought light to the Dominican Republic for the American sugar interests in 1916. I helped make Honduras right for the American fruit companies in 1903. In China in 1927 I helped see to it that Standard Oil went on its way unmolested. Looking back on it, I might have given Al Capone a few hints. The best he could do was to operate his racket in three districts. I operated on three continents.

Collateral Capacity or Net Worth? If young Bill Gates had knocked on your door asking you to invest $10,000 in his new company, Microsoft, could you get your hands on the money? Collateral capacity is access to capital. Your net worth is irrelevant if you can’t access any of the money. Collateral capacity is my favorite wealth concept. It’s almost like having a Golden Goose! Collateral can help a borrower secure loans. It gives the lender the assurance that if the borrower defaults on the loan, the lender can repossess the collateral. For example, car loans are secured by cars, and mortgages are secured by homes. Your collateral capacity helps you to avoid or minimize unnecessary wealth transfers where possible, and accumulate an increasing pool of capital providing accessibility, control and uninterrupted compounding. It is the amount of money that you can access through collateralizing a loan against your money, allowing your money to continue earning interest and working for you. It’s very important to understand that accessibility, control and uninterrupted compounding are the key components of collateral capacity. It’s one thing to look good on paper, but when times get tough, assets that you can’t touch or can’t convert easily to cash, will do you little good. Three things affect your collateral capacity: ① The first is contributions into savings and investment accounts that you can access. It would be wise to keep feeding your Golden Goose. Often the lure of higher return potential also brings with it lack of liquidity. Make sure you maintain a good balance between long-term accounts and accounts that provide immediate liquidity and access. ② Second is the growth on the money from interest earned on the money you have in your account. Some assets earn compound interest and grow every year. Others either appreciate or depreciate. Some accounts could be worth a great deal but you have to sell or close them to access the money. That would be like killing your Golden Goose. Having access to money to make it through downtimes is an important factor in sustaining long-term growth. ③ Third is the reduction of any liens you may have against these accounts. As you pay off liens against your collateral positions, your collateral capacity will increase allowing you to access more capital in the future. The goose never quit laying golden eggs – uninterrupted compounding. Years ago, shortly after starting my first business, I laughed at a banker that told me I needed at least $25,000 in my business account in order to borrow $10,000. My business owner friends thought that was ridiculously funny too. We didn’t understand collateral capacity and quite a few other things about money.

But few gain sufficient experience in Wall Street to command sucess until they reach that period of life in which they have one foot in the grave. When this time comes these old veterans of the Street usually spend long intervals of repose at their comfortable homes, and in times of panic, which recur sometimes oftener than once a year, these old fellows will be seen in Wall Street, hobbling down on their canes to their brokers' office. Then they always buy good stocks to the extent of their bank balances, which have been permitted to accumulate for just such an emergency. The panic usually rages until enough of these cash purchases of stock is made to afford a big "rake in." When the panic has spent its force, these old fellows, who have been resting judiciously on their oars in expectation of the inevitable event, which usually returns with the regularity of the seasons, quickly realize, deposit their profits with their bankers, or the overplus thereof, after purchasing more real estate that is on the upgrade, for permanent investment, and retire for another season to the quietude of their splendid homes and the bosoms of their happy families. If young men had only the patience to watch the speculative signs of the times, as manifested in the periodical egress of these old prophetic speculators from their shells of security, they would make more money at these intervals than by following up the slippery "tips" of the professional "pointers" of the Stock Exchange all the year round, and they would feel no necessity for hanging at the coat tails, around the hotels, of those specious frauds, who pretend to be deep in the councils of the big operations and of all the new "pools" in process of formation. I say to the young speculators, therefore, watch the ominous visits to the Street of these old men. They are as certain to be seen on the eve of a panic as spiders creeping stealthily and noiselessly from their cobwebs just before rain.

Decker’s longtime FBI partner, Alex Jamison, had been transferred to New York and found what looked to be love with a Wall Street investment banker. His old boss at the FBI, Ross Bogart, had retired and was learning to play golf—badly, he had heard—in Arizona.

We spoke the words bankers wanted to hear. Our numbers were clear, and we included our track record with our five other properties.

She comes further into the room and even the billowing layers of curtains cannot conceal her great beauty or youth. Certainly, she is far too young for her dining companion who has just barged in with all the grace of a retired rugby player. I recognize his swollen head instantly. Rupert Lothian. An over-privileged, nerve gratingly colossal ass. He is one of the bank’s high profile private customers. The bank never does business with anyone they do not check out first and his report was sickening

Everyone experiences grace, even if they don't realize it. It's kind of like Moby's music. You could ask your average sixty-something-year-old retired banker in Connecticut if he's ever heard of Moby and/or his music and the response you'd receive more than likely would be a resounding, “No—what's a Moby?” But if you say, “Remember that American Express commercial where Tiger Woods is putting around New York City? Remember the song playing? That was Moby.” “Oh, then, OK. I guess I have heard Moby,” our theoretical retired banker in New Canaan might say. “So … what exactly is a Moby?” That's like grace. Not that grace is a pretentious vegan techno-rocker, but you get the idea. Grace is everywhere, all around us, all of the time. We only need the ears to hear it and the eyes to see it.

A famous parable recounts how a successful and wealthy investment banker tries to encourage a humble Mexican man fishing on a pier to boost his output so he can make more money, grow his business, and eventually become a millionaire. The fisherman asks, “What for?” To which the banker says, “So you can retire, relax, and just fish”—which

The night she met Safiye she stole her earrings right out of her earlobes and, having retired to a quiet corner of the mansion to inspect them, found that the gems were paste. Then she discovered that her base metal bangle was missing and quickly realized that she could only have lost it to the person she was stealing from; she’d been distracted by the baubles and the appeal of those delicate earlobes. Cornered by a banker whose false memory of having been in love with her since matriculation day might prove profitable, Lucy wavered between a sensible decision and a foolhardy one. Ever did foolhardiness hold the upper hand with Lucy; she found Safiye leaning against an oil lantern and saw for herself that she wasn’t the only foolish woman in the world, or even at that party, for Safiye had Lucy’s highly polished bangle in her hand and was turning it this way and that in order to catch fireflies in the billowing, transparent left sleeve of her gown. All this at the rise of being set alight, but then from where Lucy stood Safiye looked as if she was formed of fire herself, particles of flame dancing the flesh of her arm into existence. That or she was returning to fire.