Eugene Rotberg: Making

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Eugene Rotberg: 26   quotes 0   likes

“Ignore accounting conventions. They are not useful risk management tools; they are designed to make our lives easier and comfortable.”

Eugene Rotberg

“Banks are unprofitable because they make too many bad loans and their good loans have little profit in them. They also have the dubious advantage of an awful set of accounting conventions—“a rolling loan gathers no loss”—that permits them to mask their mistakes and hold assets without marking their value to market. Spreads are narrow, costs are high and there is too much reliance on insured deposits, with the accompanying incentive to take risks with someone else's money.”

Eugene Rotberg

“Speech on Banking Systems for the New York Times and Glass Steagall." http://www.generotberg.com/speeches/1990s/Banking%20System%20article%201990s.pdf. (1990)

Money , Loss

“We design performance measures to cover-up error. They are called benchmarks. We make decisions based on: Will we be found out? Discovered? Identified as the wrongdoer? Do we really want to have to explain this stuff to someone who spent his or her life in sales or marketing?”

Eugene Rotberg

Informal remarks on the occasion of the 50th anniversary of the Eurobond market." http://www.generotberg.com/speeches/2000s/on-the-occasion-of-the-50th-anniversary-of-the-eurobond-market.html (2013)

Life , Error , Decision