Quotes About Financial crisis

I'm quite worried about the fiscal imbalances that we've got and what that might mean in terms of financial crisis ahead.

Not at Lehman Brothers, which collapsed in 2008, and not on Wall Street; Greece was where the fire broke out. One heard the word contamination again and again, but this time it was no imperial cultural contamination, no creeping process of civilization. This time the crisis was a contagion: debts and obligations that would never be repaid, a gradual deterioration of the financial immune system.

After Augustus' death, the Emperor Tiberius hoarded money, with the result that interest rates rose above the legal limit and a banking crisis erupted in AD 33. Tiberius then decided to lend out the imperial treasure free of interest to patrician families, which brought about an immediate decline in interest rates and an end to the crisis.55 His actions constituted the world's first experience of quantitative easing.fn9

Veterans are driven by the same frustrations that the public has with what is happening in Washington... the fiscal irresponsibility and the financial crisis that our country is facing.

The assumption that Washington could and would resolve Lehman Brothers without a bankruptcy, as it had Bear Stearns, was the single biggest mistake in the series of mistakes in 2007 and 2008 that led to the financial panic and the ensuing epidemic of job losses.

Since Medicare is on track to go bankrupt in 2024, the de facto Obama Medicare plan is to rob it and watch it disappear, leaving future generations without any hope of receiving benefits and today's seniors with an unpredictable future.

When the housing market fell in Las Vegas, we got so many Rolex and Tag Heuer watches it was ridiculous.

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

We cannot allow the bankruptcy of a euro member state like Greece to turn into a second Lehman Brothers.

We cannot have Derby County going the same way as Macclesfield and Bury. That would be a stain on English football. It simply cannot be allowed to happen.

Between the Community Redevelopment Act, requiring banks to make what I would call very weak loans, and specific quotas that the Congress imposed on Fannie Mae and Freddie Mac, that created the market demand that really led to the subprime phenomenon.

I saw the government really using the excuse of a weak economy and a financial crisis to create more government and to push onto the American entrepreneurial society more and more restraints and government activity.

We have been dealt a very weak hand by the financial market meltdown, bailouts, and recession. We can't act like it's a strong one.

I believe the United States is very sick financially and might not survive another four years of Obama-style leadership.

The laws of the marketplace are physical laws, and they don't become suspended in a crisis any more than the law of gravity does.

A clear lesson of history is that a 'sine qua non' for sustained economic recovery following a financial crisis is a thoroughgoing repair of the financial system.

A cheaper British currency could be a crisis if its swift move provoked a broader financial crisis, which it has not, or if it triggered massive inflation. For now, cheaper sterling will hurt some British households and enterprises while being a boon for others.

It seems not to matter that we are at the brink of a war that may spread beyond Afghanistan and Iraq to Iran and Georgia and then where? To Syria? To North Korea? To China? That we in America are in economic doldrums and are seeing small businesses fold and houses reclaimed by banks and a smouldering panic that is palpable everywhere.

A single agency responsible for systemic risk would be accountable in a way that no regulator was in the run-up to the 2008 crisis. With access to all necessary information to monitor the markets, this regulator would have a better chance of identifying and limiting the impact of future speculative bubbles.

AIG's failure revealed systemic problems in the OTC derivatives market that went well beyond the failure of a single market participant.

When I first came to the city, a line of people often helped me discover an exciting premiere or a big sale; in 1931, such queues more often ended at soup kitchens or collapsing banks.

And what if Britain lost? There would be a financial crisis, unemployment, and destitution. Working-class men would take up Ethel's father's cry and say that they had never been allowed to vote for the war. The people's rage against their rulers would be boundless.

With regard to the current crisis, what we have seen in government bailouts is not so much the solution to the deeper problems behind the economic crisis as it is a deferral of the consequences to some later time.

The most important lesson here is that what is tolerable risk for a company may well be intolerable for a nation. This is particularly true in banking. There is no real economy if the financial economy fails. As elaborated by Posner, "The risk to the nation is not the bankruptcy of a single major bank but the collapse of the banking industry, precipitating a financial crisis that can bring on a depression." The