Quote

A banker who is allowed to borrow money at X and loan it out at X plus Y will just go crazy and do too much of it if the civilization doesn't have rules that prevent it.

— Charlie Munger

Sentiment: NEGATIVE

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✓Similar Perspectives

In this age, if the currency of a major nation collapses, or its access to borrowing ends, it just can't function.

— Roger Altman

The problem is that borrowing money to pay back more borrowed money that will oblige you in the future to borrow even more money doesn't sound kosher. Because it isn't.

— John Podhoretz

Worry is the interest paid by those who borrow trouble.

— George Washington

A short squeeze could happen with the U.S. dollar if lenders suddenly forced debtors to pay in cash.

— Robert Kiyosaki

Banking is a very treacherous business because you don't realize it is risky until it is too late. It is like calm waters that deliver huge storms.

— Nassim Nicholas Taleb

Debt is part of the human condition. Civilization is based on exchanges - on gifts, trades, loans - and the revenges and insults that come when they are not paid back.

— Margaret Atwood

When the government runs out of lenders, it can do something that households are forbidden to do: print money.

— P. J. O'Rourke

Subsidize... or lend.

— Susan George

✗Opposing Perspectives

No man can add one dollar to his bank account by worrying.

— Vash Young

We know that advanced economies with stable governments that borrow in their own currency are capable of running up very high levels of debt without crisis.

— Paul Krugman