Quotes About Financial crisis

I believe that the financial crisis of 2008/9 exposed more a lack of ethics and morality - especially by the financial sector - rather than a problem of regulation or criminality. There were, of course, regulatory lessons to be learned, but at heart, there was a collective loss of our moral compass.

If you ask around, it's pretty easy to find someone who has a bank account overdraft horror story to tell.

Sometimes, the aftermath is more devastating than the storm. That is the story of the 2008 financial crisis. It was disastrous at the time, but what has been worse is how long it has lingered.

The interesting thing about the China story, getting back to the macro and micro, and as dire as I think the macro story is - due to bad credit and credit extension that makes Greece and Spain and the U.S. look like child's play - when you get to the micro of individual companies, they look even worse.

The financial crisis and the Great Recession demonstrated, in a dramatic and unmistakable manner, how extraordinarily vulnerable are the large share of American families with very few assets to fall back on. We have come far from the worst moments of the crisis, and the economy continues to improve.

I will not let anyone tell me we must spend more money. This crisis did not come about because we issued too little money but because we created economic growth with too much money and it was not sustainable growth.

By contrast, hedge funds made it through the mayhem without receiving any direct taxpayer assistance: There is no precedent that says that the government stands behind them.

One hedge fund had imploded, threatening to start a systemic fire. Another hedge fund had swooped in, acting as the fireman.

The Stock Market was down today. Two major businesses declared bankruptcy, consumer spending is at an all time low - in other words, Bush is back on the job.

Le problème au milieu d'une telle panique financière et dans une économie capitaliste moderne, c'est qu'il était impossible de faire la distinction entre les bonnes et les mauvaises entreprises, ou de ne châtier que les irresponsables et les crapuleux. Que cela nous plaise ou non, nous étions tous dans le même bateau.

I'd asked our economic team to develop legislative reforms that would make a future crisis less likely. As far as Rahm was concerned, the sooner we got such a "Wall Street reform" bill drafted and up for a vote, the better. "It puts us back on the side of the angels," he said. "And if the Republicans try to block it, we'll shove it up their ass.

Herbert Hoover failed through no fault of his own. The Crash of 1929 and the Great Depression were beyond his control, and every remedy he tried failed adequately to work.

Imperceptibly, the developed world's manufacturing base was gradually eroding and being replaced by securitized finance that destroyed itself and nearly its economies in 2008.

The Republicans in the House and the Bush administration are bankrupting this country.

If you were out of a job and your kid needed diapers and your husband just left you, you would be so confused.

Illinois has severe budget problem. You cannot cut your way out of the problem.

We have not argued in either Brazil or Argentina that the IMF should step in to protect the banks.

It is past time for Congress to get serious about our spending crisis and impose fiscal restraint.

all the countries that had not been able to help themselves to begin with—like Japan—are poorer, further away from either economic or political stability than ever.

There is much to dislike about President Obama's approach to the financial crisis. But opposition, it seems, will have to come from somewhere other than conservatism. The party out of power is also a party out of touch.

We escaped the last big bursting of a bubble - the dotcom bubble - with a relatively light U.S. recession. On that occasion, the world economy found its way back on track fairly quickly.

The bank bailout should have been more focused on helping small and medium sized banks, on helping homeowners. I think the trade agreements are a disaster.

The Spanish government, having run completely out of money, secretly sold the Pyrenees to China, and is now separated from France only by traffic cones.

Unemployment is sky-rocketing; deflation is in our future for the first time since the Great Depression. I don't care whose fault it is, it's the truth.