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The Doomsayers have always had their uses, since they trigger the coping mechanism that often prevents the events they forecast.

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
Always
Prevents
Triggers
Mechanism
Uses
Events
Forecast
Since
Forecasts
Use
Trigger
Often
Coping

More quotes by Walter Wriston

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Risk is not a dirty word.
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Banking is a branch of the information business.
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Failure is not a crime. Failure to learn from failure is.
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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.
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Information about money is more important than money itself.
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A country does not go bankrupt.
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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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Capital goes where it is welcome and stays where it is well treated.
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When you retire you go from Who's Who to Who's That?
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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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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.
Walter Wriston
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The information revolution has changed wealth. Intellectual capital is far more important than money.
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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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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.
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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
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Information about money has become almost as important as money itself.
Walter Wriston
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All of life is the management of risk, not its elimination.
Walter Wriston
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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
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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
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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