Financial System Quotes

• Well-functioning financial systems are important in achieving sustained economic growth. They play a crucial role in channeling household savings into the corporate sector and allocating investment funds among firms.

  Toshihiko Fukui

  Play, Growth, Important

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• Like it or not, we have to have a financial system that is healthy and functioning.

  Barack Obama

  Healthy, Financial

  "Dems To Wall Street: GOP’s Not The Party For You" By Ryan Grim, www.huffingtonpost.com. April 6, 2010.

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• If you don't have a functioning financial system the world economy won't be revived. All the major economies have their responsibility to assist at a pace which is required to clean up the balance sheet of the banking system and to ensure that credit flows are resumed.

  Manmohan Singh

  Responsibility, Balance, Pace

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• The lesson of history is that you do not get a sustained economic recovery as long as the financial system is in crisis.

  Ben Bernanke

  Recovery, Long, Lessons

  "60 Minutes" with Scott Pelley, www.realclearpolitics.com. March 15, 2009.

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• If the financial system has a defect, it is that it reflects and magnifies what we human beings are like. Money amplifies our tendency to overreact, to swing from exuberance when things are going well to deep depression when they go wrong. Booms and busts are products, at root, of our emotional volatility.

  Niall Ferguson

  Emotional, Swings, Roots

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  I believe that banking institutions are more dangerous to our liberties than standing armies.

  Thomas Jefferson

  Money, Believe, Army

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• We may be in a rapidly evolving international financial system with all the bells and whistles of the so-called new economy. But the old-economy rules of prudence are as formidable as ever. We violate them at our own peril.

  Alan Greenspan

  Bells, May, Financial

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• The global crisis is caused by pathologies inherent in the global financial system itself.

  George Soros

  Financial, Pathology, Crisis

  "The Crisis of Global Capitalism: Open Society Endangered". Book by George Soros, 1998.

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• By rescuing the financial system without reforming it, Washington has done nothing to protect us from a new crisis, and, in fact, has made another crisis more likely.

  Paul Krugman

  Done, Facts, Financial

  "The Joy of Sachs". www.nytimes.com. July 16, 2009.

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• The financial system as a whole has had the characteristics of a Ponzi scheme if we look at it fundamentally.

  Tim Lee

  Looks, Financial, Environment

  "Was whole economy a Ponzi scheme?". www.nytimes.com. January 1, 2009.

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• Developing countries like Malaysia should have a say in changing the world financial system since we have faced the problems that it has caused.

  Mahathir Mohamad

  Country, Should Have, Developing Countries

  Mahathir bin Mohamad (2002). “Reflections on Asia”, Pelanduk Publications Sdn Bhd

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• You know, I have more than enough to do without having to worry about the financial system.

  Barack Obama

  Worry, Financial, Enough

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• A lot of the evil in the world is actually not intentional. A lot of people in the financial system did a lot of damage without intending to.

  George Soros

  People, Evil, World

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• The powers of financial capitalism had a far-reaching aim, nothing less than to create a world system of financial control in private hands able to dominate the political system of each country and the economy of the world as a whole. This system was to be controlled in a feudalist fashion by the central banks of the world acting in concert, by secret agreements arrived at in frequent meetings and conferences.

  Carroll Quigley

  Country, Fashion, Agreement

  Carroll Quigley (1966). “Tragedy and Hope: A History of the World in Our Time”, G S G & Associates Pub

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• On balance, the financial system subracts value from society

  John C. Bogle

  Balance, Financial, Values

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• Nothing is costed properly and it's destroying the earth. We need to re-educate people that what is good for the planet is good for the financial system.

  Vivienne Westwood

  People, Needs, Earth

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• We cannot live without trade. A society can neither advance nor improve without excess of disposable income. This excess can only be amassed through the production of goods and services necessary or attractive to the mass. A financial system which allows this leads to inequality; one that does not leads to mass starvation.

  David Mamet

  Excess, Doe, Income

  David Mamet (2011). “The Secret Knowledge: On the Dismantling of American Culture”, p.8, Penguin

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• I no longer care about the financial system. I gave them my roadmap. OK? Thanks, bye. I've no idea what's going on. I'm disconnected. I'm totally disengaged.

  Nassim Nicholas Taleb

  Goodbye, Ideas, Care

  "Nassim Taleb: my rules for life" by Carole Cadwalladr, www.theguardian.com. November 24, 2012.

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• The reason we need to have a gold and silver based currency is to bring discipline to the financial system so the government can't go out and do all sorts of bad things.

  Bernard von NotHaus

  Government, Discipline, Gold

  Source: www.wherestherage.com

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• The first priority is to make sure we have capital to continue to have capital available to put into the financial system. That's the first priority.

  Henry Paulson

  Priorities, Firsts, Financial

  Source: www.realclearpolitics.com

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• Financial markets are supposed to swing like a pendulum: They may fluctuate wildly in response to exogenous shocks, but eventually they are supposed to come to rest at an equilibrium point and that point is supposed to be the same irrespective of the interim fluctuations. Instead, as I told Congress, financial markets behaved more like a wrecking ball, swinging from country to country and knocking over the weaker ones. It is difficult to escape the conclusion that the international financial system itself constituted the main ingredient in the meltdown process.

  George Soros

  Country, Swings, Balls

  "The Crisis of Global Capitalism: Open Society Endangered". Book by George Soros, 1998.

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• The world economy is in a nosedive, and understanding what I call "depression economics" - the weird world you get into when even a zero interest rate isn't low enough, and a messed-up financial system is dragging down the real economy - is essential if we're going to avoid the worst.

  Paul Krugman

  Zero, Real, Understanding

  "Nobel Laureate Paul Krugman on the Economy". Live chat, www.washingtonpost.com. December 15, 2008.

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• We must see that it is foolish, sinful and suicidal to destroy the health of nature for the sake of an economy that is really not an economy at all but merely a financial system, one that is unnatural, undemocratic, sacrilegious, and ephemeral.

  Wendell Berry

  Suicidal, Ephemeral, Sake

  Wendell Berry (2003). “The Art of the Commonplace: The Agrarian Essays of Wendell Berry”, p.201, Counterpoint

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• There are specific times where film noir is a natural concomitant of the mood. When there's insecurity, collapse of financial systems - that's where film noir always hits fertile ground.

  Werner Herzog

  Insecurity, Noir, Financial

  "Courting Disaster: Werner Herzog". Interview with Darrell Hartman, www.interviewmagazine.com. October 28, 2009.

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• Today, if you look at financial systems around the globe, more than half the population of the world - out of six billion people, more than three billion - do not qualify to take out a loan from a bank. This is a shame.

  Muhammad Yunus

  Gambling, People, Population

  "Muhammad Yunus, Banker to the World’s Poorest Citizens, Makes His Case". Interview with Linda O’Bryon, knowledge.wharton.upenn.edu. March 09, 2005.

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