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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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Walter Wriston
Age: 85 †
Born: 1919
Born: August 3
Died: 2005
Died: January 19
Banker
Middletown
Connecticut
Walter Bigelow Wriston
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Nothing
Lawyer
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More quotes by Walter Wriston
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
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
Banking is a branch of the information business.
Walter Wriston
Capital goes to where it can escape taxation and be used to pay employees in sacks of rice.
Walter Wriston
Information is a business in itself. It is also something that has made control impossible ... you cannot get customers to accept prices in one place when they know there's a better deal elsewhere. It's a whole new world.
Walter Wriston
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
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
As long as capital-both human and money-can move toward opportunity, trade will not balance.
Walter Wriston
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
All of life is the management of risk, not its elimination.
Walter Wriston
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
We're not in cultures which support learning we're in cultures that give us the message consistently: Don't mess up, don't make mistakes, don't make the boss look bad, don't give us any surprises. So we're asking for a kind of predictability, control, respect, and compliance that has nothing to do with learning.
Walter Wriston
When you retire you go from Who's Who to Who's That?
Walter Wriston
The Doomsayers have always had their uses, since they trigger the coping mechanism that often prevents the events they forecast.
Walter Wriston
Risk is not a dirty word.
Walter Wriston
A country does not go bankrupt.
Walter Wriston
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
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
Capital goes where it is welcome and stays where it is well treated.
Walter Wriston
The guy with the competitive advantage is the one with the best technology.
Walter Wriston
