Friday, January 27, 2012

My Favorite Quote about Banking

"There are more banks than bankers."

Brilliant. This observation comes from the king of over-the-counter bank stock market makers, Morris Schapiro, who died at age 93 in 1996. I know little about Schapiro, but loved him instantly when I heard this quote. I was, therefore, delighted to spot his name on a dormitory some years ago at Columbia University. Apparently, Marty Sosnoff likes the quote, too.