Quotes About Financial crisis

The entitlement state has driven us into insolvency.

You cannot spend your way out of recession or borrow your way out of debt.

However, optimism is highly valued, socially and in the market; people and firms reward the providers of dangerously misleading information more than they reward truth tellers. One of the lessons of the financial crisis that led to the Great Recession is that there are periods in which competition, among experts and among organizations, creates powerful forces that favor a collective blindness to risk and uncertainty.

Regulators around the world have achieved an unprecedented level of collaboration since the financial crisis to create global standards for financial institutions. American regulators have largely viewed these international standards as a floor, and imposed higher standards on U.S. institutions.

For some in my generation, Sept. 11th was a moment of political awakening. For others, the Iraq War or the financial crisis or the rise of Obama were the major events of their teenage years that began to lay the foundation for their views.

I never thought I'd be in a position like I was at Aston Villa where people weren't going to get paid on a Friday. That's how bad it was. It looks great from the outside but we had huge financial problems for months.

Debt, we've learned, is the match that lights the fire of every crisis. Every crisis has its own set of villains - pick your favorite: bankers, regulators, central bankers, politicians, overzealous consumers, credit rating agencies - but all require one similar ingredient to create a true crisis: too much leverage.

The problem with the focus on speculators, as was demonstrated during the financial crisis, is that it tends to divert attention from the real villains. During the financial crisis, the villains were the actions of the banks, not the speculators betting on bank share prices.

The moral angle to the foreclosure crisis - and, of course, in capitalism we're not supposed to be concerned with the moral stuff, but let's mention it anyway - shows a culture that is slowly giving in to a futuristic nightmare ideology of computerized greed and unchecked financial violence.

Argentina is in a virtual, hidden default.

The lesson of 2008 is that ultimately our markets are driven by confidence.

Reed will pull a Trump, file for bankruptcy and hide behind the courts for protection

The bankruptcy was called involuntary, as if others had eager volunteers. The pack was led by a print supplier from Memphis that was owed $60,000. Several creditors had not been paid in six months. The old Security Bank was calling in a loan.

Massive layoffs at financial firms. Banks refusing to lend while other banks were closing their doors. Congress chasing its tail. Obama blaming Bush. McCain/Palin blaming the Democrats.

All crisis have involved debt that, in one fashion or another, has become dangerously out of scale in relation to the underlying means of payment.

The onset of a crisis is usually triggered by a spectacular failure which shakes confidence in fictitious forms of capital.

The protecting state prioritized the protection of speculators and fraudsters over the needs of citizens who had been hit by the crisis and unemployment.

I stole a significant amount of money from a family member. I knew I was going to get caught, but I was so desperate I didn't care. It was a cry for help.

I'm the finance minister of a bankrupt country!

Deposit insurance has proved to be the crack cocaine of American finance.

Whenever there is a a financial crisis, it is always the banks that get hit.

The Russian economy is tanking. It's gotten so bad that today Vladimir Putin had to pawn his stolen Super Bowl ring. And Putin will finance his next invasion on Kickstarter.

Sabe que usted es culpable de una de las crisis más importantes de mi vida? Preguntó ¿Económicamente? y todavía ríe. Contesté, No sentimental.

Part of what academics do is generate ideas and teach. The other, perhaps more important part, is to play the role of "the Bu*l*hit Police." Our job is to look at the ideas and plans interested parties put forward to solve our collective problems and see whether or not they pass the sniff test. Austerity as a route to growth and as the correct response to the aftermath of a financial crisis does not pass the sniff test.