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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

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Walter Wriston
Age: 85 †
Born: 1919
Born: August 3
Died: 2005
Died: January 19
Banker
Middletown
Connecticut
Walter Bigelow Wriston
Economy
Partly
Impossible
Recent
Imagine
Require
Past
Opposed
Power
Global
Even
Seemed
Multinational
Years
National
Multinationals
Truly
Concessions

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If we had a truth-in Government act comparable to the truth-in-advertising law, every note issued by the Treasury would be obliged to include a sentence stating: This note will be redeemed with the proceeds from an identical note which will be sold to the public when this one comes due.
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Banking is a branch of the information business.
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Every line in the government's budget has its own constituency.
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Risk is not a dirty word.
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Human capital will go where it is wanted, and it will stay where it is well treated. It cannot be driven it can only be attracted.
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A country does not go bankrupt.
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All of life is the management of risk, not its elimination.
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The Doomsayers have always had their uses, since they trigger the coping mechanism that often prevents the events they forecast.
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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.
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Capital goes where it is welcome and stays where it is well treated.
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Failure is not a crime. Failure to learn from failure is.
Walter Wriston
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Capital goes to where it can escape taxation and be used to pay employees in sacks of rice.
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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.
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The guy with the competitive advantage is the one with the best technology.
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Information about money has become almost as important as money itself.
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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
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As long as capital-both human and money-can move toward opportunity, trade will not balance.
Walter Wriston
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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
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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
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Information about money is more important than money itself.
Walter Wriston