Quote

Countries don't go out of business....The infrastructure doesn't go away, the productivity of the people doesn't go away, the natural resources don’t go away. And so their assets always exceed their liabilities, which is the technical reason for bankruptcy. And that's very different from a company.

Walter Wriston

Change background

T
T
T

Change font

TAGS & TOPICS

Walter Wriston
Age: 85 †
Born: 1919
Born: August 3
Died: 2005
Died: January 19
Banker
Middletown
Connecticut
Walter Bigelow Wriston
Doesn
Assets
Reason
Investing
Liabilities
Country
Countries
Liability
Different
Resources
Bankruptcy
Always
Company
Exceed
People
Natural
Infrastructure
Business
Productivity
Away
Technical

More quotes by Walter Wriston

Image
Capital goes to where it can escape taxation and be used to pay employees in sacks of rice.
Walter Wriston
Image
The information revolution has changed wealth. Intellectual capital is far more important than money.
Walter Wriston
Image
Failure is not a crime. Failure to learn from failure is.
Walter Wriston
Image
A truly global economy, as opposed to the multinational economy of the recent past, will require concessions of national power ... that seemed impossible a few years ago and which even now we can but partly imagine.
Walter Wriston
Image
One man saying that everything is wrong can command coast-to-coast attention in living color, a power not given to an absolute monarch a century ago.
Walter Wriston
Image
Capital will always go where it’s welcome and stay where it’s well treated. Capital is not just money. It’s also talent and ideas. They, too, will go where they’re welcome and stay where they are well treated.
Walter Wriston
Image
All the Congress, all the accountants and tax lawyers, all the judges, and a convention of wizards all cannot tell for sure what the income tax law says.
Walter Wriston
Image
The greatest testimony to the human spirit that I'm witnessing now is the fact that people still come back to work, after all that has been done to them. They are still willing to participate for a more positive future if they would be sincerely invited.
Walter Wriston
Image
There'll be a growing disparity between economics and politics. An economy that grows so rapidly is intractably global. On the other hand, the current political system is intractably national. So there is a growing dichotomy between a global economy and locally based politics.
Walter Wriston
Image
A country does not go bankrupt.
Walter Wriston
Image
The person who figures out how to harness the collective genius of his or her organization is going to blow the competition away.
Walter Wriston
Image
Many organizations are now trying to walk under the banner of The Learning Organization, realizing that knowledge is our most important product ... But the only place that I've seen it is in the Army. As one colonel said, We realized a while ago that it's better to learn than be dead.
Walter Wriston
Image
I walk into all these organizations, and I'm always puzzled when I realize that people still want to be there. Most people really want to love their organizations. We need that level of commitment ... Yet organizations have done very little to deserve that kind of staying-power.
Walter Wriston
Image
All of life is the management of risk, not its elimination.
Walter Wriston
Image
It is a maxim of cryptology that what one man can devise, another can unravel. This principle keeps armies of tax lawyers and accountants employed, but adds nothing to our national productivity.
Walter Wriston
Image
When you retire you go from Who's Who to Who's That?
Walter Wriston
Image
Every line in the government's budget has its own constituency.
Walter Wriston
Image
The guy with the competitive advantage is the one with the best technology.
Walter Wriston
Image
Information about money is more important than money itself.
Walter Wriston
Image
Risk is not a dirty word.
Walter Wriston