Financial Crisis Quotes - Page 5

• The rich believe that they're different and that it is their right to pay a much lower tax rate. The response that you see from people on Wall Street, their dismissal and their almost contempt for the concerns about their culpability in the financial crisis, about the income inequality, shows that they are completely out of touch.

  Robin Wells

  Wall, Believe, People

  Source: www.pbs.org

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• These two entities Fannie Mae and Freddie Mac are not facing any kind of financial crisis. The more people exaggerate these problems, the more pressure there is on these companies, the less we will see in terms of affordable housing.

  Barney Frank

  Two, People, Affordable Housing

  The New York Times, September 11, 2003.

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• As the United States continues its slow but steady recovery from the depths of the financial crisis, nobody actually wants a massive austerity package to shock the economy back into recession, and so the odds have always been high that the game of budgetary chicken will stop short of disaster. Looming past the cliff, however, is a deep chasm that poses a much greater challenge -- the retooling of the country's economy, society, and government necessary for the United States to perform effectively in the twenty-first century.

  Fareed Zakaria

  Country, Recovery, Past

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• The future will be less predictable, forecast rises will shrink, company lifetimes will shrink, new entrants will proliferate and it’s going to just get more unpredictable. If you thought financial crises came and went, just count on them – another economic collapse, it’s almost going to be like not news any more. But for startups this is great, because it’s a perpetual driver of disruption.

  Steve Jurvetson

  News, Financial, Lifetime

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• The Death of Money is an engrossing account of the massive stresses accumulating in the global financial system, especially since the 2008 financial crisis. Jim Rickards is a natural teacher. Any serious student of financial crises and their root causes needs to read this book.

  John H. Makin

  Teacher, Stress, Book

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• Here's Hillary Clinton getting away with tying the Republicans to rich people. She's tying the Republican Party to Wall Street, to the big banks. She's tying the Republican Party to the financial crisis in 2008. It's all their fault. She's tying herself as with the low-income crowd - and the average, ordinary middle class American - as their champion, as their defender. They don't know that it's not the Republicans in bed with banks. They don't know that it's the banks that are practically paying for and underwriting the Democrat Party and Hillary Clinton today.

  Rush Limbaugh

  Wall, Party, Average

  Source: www.rushlimbaugh.com

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• Beside the two wars he inherited in Iraq and Afghanistan, and promised to end, a financial crisis at home had pushed the United States to the brink of another Great Depression. When we spoke with the new president in March of 2009, the economy was losing 800,000 jobs a month, the government was throwing hundreds of billions of dollars at failing banks, and the auto industry was on the verge of collapse. Politically pummeled from all sides, Obama did his best to keep a sense of humor.

  Barack Obama

  Jobs, War, Home

  Source: www.cbsnews.com

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• The global financial crisis is a great opportunity to showcase and propagate both causal and moral institutional analysis. The crisis shows major flaws in the way the US financial system is regulated and, more importantly, in our political system, which is essentially a bazaar of legalized bribery where financial institutions can buy themselves the governmental regulations they want, along with the regulators who routinely receive lucrative jobs in the industry whose oversight had formerly been their responsibility, the so-called revolving-door practice.

  Thomas Pogge

  Jobs, Responsibility, Opportunity

  Source: www.truth-out.org

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• It is no exaggeration to say that rising inequality has driven many of the 99 percent into a financial ditch. It also helped spawn the housing bubble that gave us the financial crisis of 2008, the lingering effects of which have forced many OWS protesters to try to launch their careers in by far the most inhospitable labor market we've seen since the Great Depression. Even those recent graduates who manage to find jobs will suffer a lifelong penalty in reduced wages.

  Robert H. Frank

  Jobs, Careers, Suffering

  Source: bobmorris.biz

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• Critics, often for good reason, are concerned that the Fed is wielding its vast powers in the interests of the banks and not in the interests of the people. After the financial crisis, Americans have perceived that the banks have been bailed out, but a significant proportion of the population is still in serious economic trouble.

  Gerald Epstein

  People, Population, Serious

  Source: www.truth-out.org

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• It's just very hard to teach a class of students about what has happened in the Global Financial Crisis, how we ended up there and how we got to where we are today, without having some basic, non-trivial understanding of the financial sector, credit, and the banking system.

  Alan M. Taylor

  Class, Understanding, Banking

  Source: www.truth-out.org

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• People look at the future and see a black hole. They look at climate change and see an ecological crisis. They look at their leaders corrupted by money and see a political crisis. They wonder if they'll ever be able to pay off their student loan or own a house. Given this ecological, political and financial crisis, what they want is a different future. Their fundamental demand is a different regime to provide that future.

  Kalle Lasn

  People, House, Leader

  Source: www.guernicamag.com

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• At a Texas college, a football field that was turned into a farm. The Tigers of Paul Quinn College lost more football games than they won on this field. So, years ago, when the historically black college on the South Side of Dallas was in financial crisis and had a 1 percent graduation rate, a new president turned everything over, including the football field.

  Hari Sreenivasan

  Football, College, Black

  Source: www.pbs.org

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• In the immediate postwar era, financial crises in advanced countries were rare events, and before 1970 did not happen at all. Since then they have occurred more often, and 2008 was the most damaging of them all to date. If we have moved back to a regime of regular financial crises - like the one we had from the 1870s to the 1930s - then our economic future will be very different from our recent past.

  Alan M. Taylor

  Country, Past, Rare Events

  Source: www.truth-out.org

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• The President [Barack Obama], I think if you look at it from his shoes, you know, was facing a very difficult situation where he had to own Washington, tame New York, save a collapsing economy, with a collapsed financial system. He moved, I think, to a team that he felt was tried and true, in terms of dealing with financial crisis. That was his decision.

  Ron Suskind

  New York, Team, Thinking

  Source: www.truth-out.org

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• If you look at what happened, I came in the middle of the worst financial crisis since the Great Depression. And unlike Franklin Delano Roosevelt who waited, well, didn't take office until about three years into the Great Depression, it was happening just as I was elected.

  Barack Obama

  Years, Office, Three

  Source: abcnews.go.com

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• For the last several decades, there was a prevailing belief among traditional economists that the markets were rational and self-correcting. Alan Greenspan advocated this view. But the 2008 financial crisis showed that this view is incorrect, and Greenspan eventually admitted as much.

  Kabir Sehgal

  Self, Views, Lasts

  Source: bobmorris.biz

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• We have already seen some instances of systemic risk in recent times in the Asian financial crisis. But what sparked off the Asian financial crisis? Automated trading programmes!

  Paul Virilio

  Risk, Asian, Financial

  Source: ctheory.net

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• When I was in government, the South African economy was growing at 4.5% - 5%. But then came the global financial crisis of 2008/2009, and so the global economy shrunk. That hit South Africa very hard, because then the export markets shrunk, and that includes China, which has become one of the main trade partners with South Africa. Also, the slowdown in the Chinese economy affected South Africa. The result was that during that whole period, South Africa lost something like a million jobs because of external factors.

  Thabo Mbeki

  Jobs, Government, Chinese

  Source: www.tregernomics.com

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• At present, financial crises occur, chiefly because the paper currency is redeemable in gold only.

  John Buchanan Robinson

  Gold, Paper, Financial

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• In the financial system we have today, with less risk concentrated in banks, the probability of systemic financial crises may be lower than in traditional bank-centered financial systems

  Timothy Geithner

  Risk, May, Today

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• During the financial crisis and bailouts of 2008, it probably occurred to very few average people that we were entering a period of hardship for billionaires.

  Thomas Frank

  Average, People, Entering

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• Edward Conard provides a provocative interpretation of the causes of the global financial crisis and the policies needed to return to rapid growth. Whether you agree or not, this analysis is well worth reading.

  Nouriel Roubini

  Reading, Growth, Analysis

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• For me, the Asian financial crisis of 1998 and the war in Kosovo in 1999 are the prelude to the integral accident.

  Paul Virilio

  War, Asian, Financial

  Source: ctheory.net

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• The Tea Party was born out of the disgust many Americans felt early in the financial crisis upon learning that the federal government was even contemplating reducing the principal on some troubled mortgages.

  Mark Zandi

  Party, Government, Tea

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