Financial System Quotes - Page 2

• No price is too high to pay to try to make the financial system go on a little bit longer. But ultimately it can't be saved, because of the mathematics that are involved.

  Michael Hudson

  Trying, Littles, Pay

  Source: www.counterpunch.org

  4 Copy quote

  Show source

• It's great that people get together and collaborate, talk about the facts and the analysis, all in the interest of having a great financial system.

  Jamie Dimon

  People, Together, Analysis

  4 Copy quote

• The free enterprise system has not failed; the financial system has failed.

  Tony Blair

  Financial, Enterprise, Free Enterprise

  9 Copy quote

• The financial system in its current condition poses an existential threat to Western democracy far exceeding any terrorist threat.

  John Lanchester

  Democracy, Financial, Existential

  4 Copy quote

• I believe in market economics. But to paraphrase Churchill - who said this about democracy and political regimes - a market economy might be the worst economic regime available, apart from the alternatives. I believe that people react to incentives, that incentives matter, and that prices reflect the way things should be allocated. But I also believe that market economies sometimes have market failures, and when these occur, there's a role for prudential - not excessive - regulation of the financial system.

  Nouriel Roubini

  Believe, People, Political

  12 Copy quote

• We do not expect significant spillovers from the subprime market to the rest of the economy or to the financial system.

  Ben Bernanke

  Financial, Economy, Significant

  "The Subprime Mortgage Market". Ben S. Bernanke's speech at the Federal Reserve Bank of Chicago’s 43rd Annual Conference on Bank Structure and Competition in Chicago, Illinois, www.federalreserve.gov. May 17, 2007.

  4 Copy quote

  Show source

• The Bankers' New Clothes makes a simple, powerful argument: that banks need to raise more capital. It is entirely persuasive that the extent of their leverage makes the financial system fragile, and it clearly and patiently demolishes all the counter-arguments made by the banks and their lobbyists.

  Diane Coyle

  Powerful, Simple, Clothes

  5 Copy quote

• Ironically, the universities have trained hundreds of thousands of graduates for jobs that soon will not exist. They have trained people to maintain a structure that cannot be maintained. The elite...know only how to feed the beast until it dies. Once it is dead, they will be helpless. Don't expect them to save us. They don't know how....and when it all collapses, when our rotten financial system with its trillions in worthless assets implodes and our imperial wars end in humiliation and defeat, the power elite will be exposed as being as helpless, and as self-deluded as the rest of us

  Chris Hedges

  Jobs, War, Self

  35 Copy quote

• 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.

  4 Copy quote

  Show source

• 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.

  11 Copy quote

  Show source

• 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.

  4 Copy quote

  Show source

• 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

  4 Copy quote

  Show source

• 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.

  4 Copy quote

  Show source

• The main message of Climate Revolution is that climate change is caused by the rotten financial system we've got, designed to create poverty and rip off any profits for a small amount of rich people. Meanwhile, it destroys the earth.

  Vivienne Westwood

  Rip, People, Revolution

  9 Copy quote

• If exclusive privileges were not granted, and if the financial system would not tend to concentrate wealth, there would be few great fortunes and no quick wealth. When the means of growing rich is divided between a greater number of citizens, wealth will also be more evenly distributed; extreme poverty and extreme wealth would be also rare.

  Denis Diderot

  Mean, Numbers, Would Be

  "L'Encyclopédie", Article on Wealth, 1766.

  8 Copy quote

  Show source

• He smote the rock of the national resources, and abundant streams of revenue gushed forth. He touched the dead corpse of the Public Credit, and it sprung upon its feet. The fabled birth of Minerva, from the brain of Jove, was hardly more sudden or more perfect than the financial system of the United States, as it burst forth from the conceptions of Alexander Hamilton.

  Daniel Webster

  Feet, Rocks, Perfect

  Speech, New York, N.Y., 10 Mar. 1831

  4 Copy quote

  Show source

• These public-private partnerships are very, very dangerous. The most rotten part of the financial system in the US consisted of the government sponsored entities, Fannie Mae and Freddie Mac. They really kicked off this crisis. The state should set the rules and enforce them - but not become involved as a market player.

  George Soros

  Player, Government, Rotten

  "'The Economy Fell off the Cliff'". Interview with Mathias Müller von Blumencron, Gregor Peter Schmitz and Gabor Steingart, www.spiegel.de. November 24, 2008.

  22 Copy quote

  Show source

• Europe's financial system is fragmented, although the gap in funding costs for banks within the euro area is no longer as wide as it was two years ago. But in lending the differences are still very large, and in some countries the credit flow is disrupted.

  Mario Draghi

  Country, Differences, Years

  11 Copy quote

• In the financial system we have today, with less risk concentrated in banks, the probability of systemic financial crises may be lower than in traditional bank-centered financial systems

  Timothy Geithner

  Risk, May, Today

  6 Copy quote

• When Hillary Clinton talks about adding more restrictions and complexity to our financial system, as she did in her economic policy speech, it shows how clueless she is about how the economy actually works.

  Carly Fiorina

  Clueless, Speech, Financial

  "Carly Fiorina, the other woman". Interview with Glenn Harlan Reynolds, www.usatoday.com. July 19, 2015.

  4 Copy quote

  Show source

• Maybe [the Republicans] 'll find ways around it, but the financial system of the world depends very heavily on the credibility of the US Treasury Department. US Treasury securities are what's called "good as gold"; they're the basis of international finance, and if the government can't uphold them, if they become valueless, the effect on the international financial system could be quite severe. But in order to destroy a limited health-care law, the right-wing Republicans, the reactionary Republicans, are willing to do that.

  Noam Chomsky

  Government, Order, Law

  Source: www.truth-out.org

  4 Copy quote

  Show source

• I don't feel so strongly against remakes, but if I don't like it, I guess I just don't do it. It is what it is. Hollywood is driven by the financial system, so if they think that it has a brand and people are going to go see it because it's a recognizable property, they're going to remake it.

  James Wan

  Thinking, People, Hollywood

  "Interview: James Wan, Leigh Whannell Talk ‘Insidious’ & Classic Horror". Interview with Rob Frappier, screenrant.com. March 13, 2011.

  7 Copy quote

  Show source

• A rentier is an investor whose relationship to a company or enterprise is strictly limited to the ownership of financial wealth (such as stocks or bonds) and the receipt of income on that wealth (such as dividends or interest). The financial system performs dismally at its advertised task, that of efficiently directing society's savings towards their optimal investment pursuits. The system is stupefyingly expensive, gives terrible signals for the allocation of capital, and has surprisingly little to do with real investment.

  Doug Henwood

  Real, Giving, Tasks

  4 Copy quote

• Britain wants the single currency to be a success. It is massively in our interests that we have a stable financial system on our doorstep.

  George Osborne

  Want, Financial, Currency

  Source: www.economist.com

  4 Copy quote

  Show source

• When I was a Senator from New York, I represented and worked with so many talented principled people who made their living in finance. But even thought I represented them and did all I could to make sure they continued to prosper, I called for closing the carried interest loophole and addressing skyrocketing CEO pay. I also was calling in '06, '07 for doing something about the mortgage crisis, because I saw every day from Wall Street literally to main streets across New York how a well-functioning financial system is essential.

  Hillary Clinton

  New York, Wall, People

  Source: www.buzzfeed.com

  6 Copy quote

  Show source