Quotes About Financial

Lehman's condition was probably worse than reported at the time,

work and help stave off deflation.

in part because financial crises are (fortunately) rare enough that relevant data are scarce.

I can only say that the Goldman alumni with whom I worked brought not only substantial financial expertise to their government duties, as one would expect, but also a strong dedication to the public interest.

that would simultaneously let investors who had misjudged risk off the hook. Richard

All this financial turmoil had direct consequences for Main Street America.

For me, one of the most important developments in Europe was a change in the leadership of the European Central Bank.

the Fed had only limited ability to help homeowners in trouble.

In that sense, a Lehman-type episode was probably inevitable.

European recovery remained elusive.

They also were unable to find an exact precedent in earlier financial crises that could serve as a model. During

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

The Bear Stearns rescue was followed by a period of relative calm, but we remained wary.

The goal of macroprudential regulation is to identify and defuse more broad-based risks that may not be evident when looking at individual institutions in isolation.

the consequences of not having a single fiscal authority for the eurozone became apparent.

markets didn't have enough examples of Fed behavior in similar circumstances.

leaving the overall size of its balance sheet unchanged.

To my relief, most of the attending senators seemed to appreciate that promoting global financial stability was in the interest of the United States.

Of course, how far and how fast rates would rise depended on the economy.

The pace was much faster than at the Fed.

might be forced to dump them on the market for whatever they could get.

As doubts grew about the GSEs,

I wanted to avoid the perception of a "Bernanke put" if at all possible.

But in a financial crisis, the words of government officials carry extraordinary weight.