"When as a young and unknown man I started to be successful I was referred to as a gambler. My operations increased in scope. Then I was a speculator. The sphere of my activities continued to expand and presently I was known as a banker. Actually I had been doing the same thing all the time."
- attributed to Ernest Cassel by Bernard Baruch
The euphoria of potential deregulation has driven the financials sector higher, but now there will be the hard work of determining which banks will be better at coping with potential rate increases.