WALTER WRISTON liked to contend that Banks needed little capital as long as they were run well.

WALTER WRISTON喜欢声称，只要银行运营良好，所需的资本并不多。

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"The only reason we keep any capital is some of the old fogeys on my board insist that we do," Mr Wriston told Paul Volcker, then President of the New York Fed, in the 1970s, Mr Volcker recalls.

据保罗·沃尔克(Paul Volcker)回忆，瑞斯顿先生曾对70年代时任纽约联邦储备银行行长的他说：“我们持有任何资金的唯一原因是我董事会的一些老顽固坚持要我们这样做。”

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At the core of Wriston's prophecy lies a simple intuition about the pace of technology.

FORBES: In search of the right quadrant

Under the stars on the Stanford campus, I told Wriston how wise his words were.

FORBES: Digital rules

Wriston's Law is named after the late Walter Wriston, a giant of banking and finance.

FORBES: Wriston's Law Still Holds