You have to remember: what are incomes to banks are outgoes to families.
Interpretation
Banks benefit from incomes while families face expenses, highlighting the disparity in financial flows.
This quote by Elizabeth Warren illustrates the crucial relationship between banks and families in the economic system. It emphasizes that what represents income or profits for banks often translates to expenses or financial burdens for families, reflecting the broader dynamics of financial inequality and the impact of banking practices on everyday life.
In practice
During a financial literacy workshop discussing budgeting, you could use this quote to illustrate the impact of banking on daily expenses.
Families rely on financial services more than ever, but those who need them most - who struggle to make ends meet - too often must contend with sky-high interest rates and tricks and traps buried in the fine print of their loan products.
There's been such a sense that there's one set of rules for trillion-dollar financial institutions and a different set for all the rest of us. It's so pervasive that it's not even hidden.
Mitt Romney is the guy who said corporations are people. No, Governor Romney, corporations are not people.
I talk to nurses and programmers, salespeople and firefighters - people who bust their tails every day. Not one of them - not one - stashes their money in the Cayman Islands to avoid paying their fair share of taxes.
'Middle class' used to be synonymous with secure, with steady, with boring, because middle-class people were people who were pretty much safe from the time they first started work on through retirement and until their deaths. No longer.
Does anyone believe that Goldman Sachs is gonna give up a deal that would yield millions of dollars because someone fussed at them behind closed doors?
The culture of self-gratification and deregulation that began during the Clinton years and continued under President George W. Bush led to the bursting of one stock market bubble at the turn of the century and a full-scale financial crash less than a decade later.
It has often been found that profuse expenditures, heavy taxation, absurd commercial restrictions, corrupt tribunals, disastrous wars, seditions, persecutions, conflagrations, inundation, have not been able to destroy capital so fast as the exertions of private citizens have been able to create it.
Economics has been incurably growth-oriented and addicted to everybody growing richer, even at the cost of exhaustion of resources and pollution of the environment.
COMMERCE, n. A kind of transaction in which A plunders from B the goods of C, and for compensation B picks the pocket of D of money belonging to E.
How can government reduce the frequency and the severity of future catastrophes? Companies that have the potential to create significant harm must be required to pay for the costs they inflict, either before or after the fact. Economists agree on this general approach. The problem is in putting such a policy into effect.
The black market was a way of getting around government controls. It was a way of enabling the free market to work. It was a way of opening up, enabling people.
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