Quotes About Decision

Did the government make a conscious decision to let Lehman fail, and, if so, why did it go on to save AIG?

he was voting yes "with some reluctance.

The Committee approved the package unanimously.

didn't seem wise.

that letting Lehman go was a choice rather than an unavoidable outcome.

we chose to hold off.

Our September rate cut drew the usual mix of praise and criticism.

Each time, the move had proved premature and the bank was forced to reverse itself.

Would it have been better for market confidence to have admitted that we were unable to save Lehman?

WE HAD A PLAN; the next step was to sell it.

They didn't resist, but they saw the idea as a low political priority.

What changed Dimon's mind about acquiring Bear?

He told me that the Fed should do what it believed necessary.

At Greenspan's urging, we decided to wait before considering further action.

The senator believed I was doing a good job but, for political reasons, had to vote against me.

the Committee would take a "balanced approach" in pursuing both price stability and maximum employment.

policymakers had to weigh what might happen if Greece, after a default,

Greg—whom I had known since graduate school—called and asked if I had any interest in succeeding him.

at the request of Jean-Claude Trichet, I called a videoconference of the FOMC to discuss renewing

It turned out, however, to have been the right appointment.

but made clear it would not grant further extensions.

In the absence of a decision by the FOMC, I could not make definitive promises. But just by discussing the possibilities at length I would send a signal that we were prepared to act.

I worried that Jorgenson would be upset if I chose MIT over Harvard

despite experts' warnings about the economic consequences. Likewise,