Quotes About Financial Crisis

#1. It's not a stretch to say the whole financial industry revolves around the compass point of the absolutely safe AAA rating. But the financial crisis happened because AAA ratings stopped being something that had to be earned and turned into something that could be paid for.

Matt Taibbi

#2. The financial crisis should not become an excuse to raise taxes, which would only undermine the economic growth required to regain our strength.

George W. Bush

#3. The motto of the old order in the City of London was, 'My word is my bond,' but the financial crisis revealed a culture quite alien to that heritage. The stewards of people's money were revealed to have been speculators with it.

Gordon Brown

#4. Capitalism cannot cause a financial crisis because capitalism is about markets constantly correcting errors. It is government intervention that can and often does cause crises,

John Tamny

#5. 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.

Janet Yellen

#6. The financial crisis we are facing today arises from the fact that there is almost no more social, cultural, natural, and spiritual capital left to convert into money.

Charles Eisenstein

#7. What we know about the global financial crisis is that we don't know very much.

Paul Samuelson

#8. The financial crisis was a classic case of the political class failing the American people. Twenty-five agencies were supposed to be minding the store during the financial crisis and every one of them was asleep at the switch.

Carly Fiorina

#9. The prevailing ideology of the modern west - which is political economy - is in the doghouse. Having failed to notice atmospheric pollution, the economists then frightened themselves with the sort of financial crisis they said they had abolished.

James Buchan

#10. I foresaw the financial crisis. I get messages in my sleep, in pictures and words. I understood that I have a mission and a role in ensuring human existence. I received a message that people would soon start to go crazy.

Shari Arison

#11. No man bears more responsibility for the present worldwide financial crisis and coming depression than Alan Greenspan.

Bill Bonner

#12. The financial crisis that began in the summer of 2007 was an extraordinarily complex event with multiple causes.

Ben Bernanke

#13. The Tea Party was born out of the disgust many Americans felt early in the financial crisis upon learning that the federal government was even contemplating reducing the principal on some troubled mortgages.

Mark Zandi

#14. Forgive me, I must start by pointing out that three years after our horrific financial crisis caused by financial fraud, not a single financial executive has gone to jail, and that's wrong,

Charles Ferguson

#15. I was a professor at Princeton University. And, in that capacity, I studied for many years the role of financial crisis in the economy.

Ben Bernanke

#16. The heart of the 2008 financial crisis was a coterie of reckless financial executives, working for too-big-to-fail financial companies, who were handsomely compensated for taking risks that almost ruined the economy when they failed.

Gary Weiss

#17. Increasing access to federal student loans has been a bipartisan effort in Washington, one that I have supported. But it has created what many experts believe is a bubble in higher education, not unlike the housing bubble that preceded the financial crisis.

Marco Rubio

#18. When the financial crisis arrived, it seemed to me that this was something I had to make a movie about.

Charles Ferguson

#19. While the financial crisis destroyed careers and reputations, and left many more bruised and battered, it also left the survivors with a genuine sense of invulnerability at having made it back from the brink. Still missing in the current environment is a genuine sense of humility.

Andrew Ross Sorkin

#20. At this point, with a financial crisis looming, Lord Revelstoke saved the day by suddenly dropping dead.

Liaquat Ahamed

#21. The current financial crisis in the US is likely to be judged in retrospect as the most wrenching since the end of the Second World War.

Alan Greenspan

#22. President Obama inherited a broken country mired in two wars, a financial crisis, a mortgage mess and more than we all probably even know about and has in my opinion brought us back from the brink. But I still see my friends in no better shape and the gap widening.

Don Cheadle

#23. What we call a financial crisis is really at its core a crisis of management, and not just a crisis of management, but a crisis of management culture ... In other words, what you had is a detachment of people who know the business from people who are running the business.

Henry Mintzberg

#24. I'd thought it strange, after the financial crisis, in which Goldman had played such an important role, that the only Goldman Sachs employee who had been charged with any sort of crime was the employee who had taken something from Goldman Sachs.

Michael Lewis

#25. We urge the Department of Justice to carefully investigate and aggressively prosecute all senior bank officials who participated in manipulating the London interbank offered rate throughout the financial crisis.

Peter Welch

#26. During the Asian financial crisis the United States and other Western countries demanded that the Asians take three steps
let bad banks fail, keep spending under control, and keep interest rates high. In it own crisis, the West did exactly the opposite on all three fronts.

Fareed Zakaria

#27. 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.

Ken Follett

#28. Executive compensation dipped during the financial crisis, but it has risen briskly since, and is now higher than it's ever been.

Anonymous

#29. In 2008, when the global financial crisis struck, it was a bad year for a lot of developing countries, and it manifested itself in consumer confidence.

Adi Godrej

#30. President Obama has basically avoided or not done any attempt to intervene in any positive way in the housing market. I think in the financial crisis that's been a shame.

Glenn Hubbard

#31. I believe that the root cause of every financial crisis, the root cause, is flawed government policies

Henry Paulson

#32. Asean is obviously a very important association for us. Over the past 30 years Asean has made great strides in regional cooperation covering a number of areas, although recently it has been under strain because of the financial crisis and other challenges.

Hassanal Bolkiah

#33. There was, of course, a global financial crisis. But our Labour predecessors left Britain exceptionally vulnerable and damaged: more personal debt than any other major economy; a dangerously inflated property bubble; and a bloated banking sector behaving as masters, not the servants of the people.

Vince Cable

#34. In response to the drop in wealth suffered as a consequence of the 2008 financial crisis, homeowners and firms did attempt to increase savings in financial assets by reducing expenditure on durables.

Dale T. Mortensen

#35. My daughter asked me when she came home from school, "What's the financial crisis?" and I said, it's something that happens every five to seven years.

Jamie Dimon

#36. During the financial crisis, I worked with hundreds of executives who struggled as a result of their thoughts about job security. When their beliefs changed, so did their emotional experience - and they were then able to focus on the task at hand more effectively.

Andrew J. Bernstein

#37. Fortunately, when Korea was struck by the 1997/8 financial crisis, that was a good opportunity for us to engage in fundamental reforms and strengthen our financial structure. As a result, our financial regulatory structure and regime have been very much strengthened.

Lee Myung-bak

#38. On Wall Street, financial crisis destroys jobs. Here in Washington, it creates them. The rest is just details.

Timothy Noah

#39. Blaming speculators as a response to financial crisis goes back at least to the Greeks. It's almost always the wrong response.

Lawrence Summers

#40. The world economy today is recovering slowly, and there are still some destabilising factors and uncertainties. The underlying impact of the international financial crisis is far from over.

Hu Jintao

#41. Combining valuable insights from his experience in China, his time as the World Bank's chief economist, and the 2008 financial crisis, Justin Yifu Lin's recommendations for development policy reflect an impressive and unique personal journey.

Kemal Dervis

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

Bill Gates

#43. If Freddie Mac is unable to raise capital, it could spark a political and financial crisis.

Charles Duhigg

#44. The financial crisis is a stark reminder that transparency and disclosure are essential in today's marketplace.

Jack Reed

#45. We are in a situation with the huge stimulus package that's going to be spent all across this nation and a big financial crisis and banking crisis. And what we need is good, trained journalists who can play the role of watchdog.

Walter Isaacson

#46. The global financial crisis - missed by most analysts - shows that most forecasters are poor at pricing in economic/financial risks, let alone geopolitical ones.

Nouriel Roubini

#47. I started out in public service in 1998 after the Asian financial crisis of '97.

Benigno Aquino III

#48. I only wanted to be a good employee who generated as much profit as possible for his employer. I was merely a small cog in the machine - and now I'm suddenly supposedly the main person responsible for the financial crisis.

Jerome Kerviel

#49. I think we will have continuing danger from these markets and that we will have repeats of the financial crisis - [they] may differ in details but there will be significant financial downturns and disasters attributed to this regulatory gap, over and over, until we learn from experience

Brooksley Born

#50. One of the very difficult parts of the decision I made on the financial crisis was to use hardworking people's money to help prevent there to be a crisis.

George W. Bush

#51. The financial crisis appears to be mostly behind us, and the economy seems to have stabilized and is expanding again.

Ben Bernanke

#52. The single most remarkable (and revealing) fact of the Obama presidency may very well be the lack of a single prosecution of Wall Street executives for the massive fraud that precipitated the 2008 financial crisis.

Glenn Greenwald

#53. I ran for Congress not because I was having a mid-life crisis. I left the private sector because I saw a looming financial crisis that was coming to this country. It's unsustainable.

Steve Daines

#54. The details of what the Fed did were kept secret until a provision in the Dodd-Frank Act that I sponsored required the Government Accountability Office to audit the Fed's lending programs during the financial crisis.

Bernie Sanders

#55. I take great pride in having been able to overcome the Asian financial crisis and seeking the opportunities available to bring about an unprecedented growth in the economy.

Zhu Rongji

#56. The Global Financial Crisis (2008-?); it is not a matter of noblesse oblige as of vitesse oblige.

Kristian Goldmund Aumann

#57. Thus the only Goldman Sachs employee arrested by the FBI in the aftermath of a financial crisis Goldman had done so much to fuel was the employee Goldman asked the FBI to arrest.

Michael Lewis

#58. Economic and financial crisis are getting much more usual, and they are not confined to a given country but they immediately spread all over the world, and you have to be prepared for that.

Sebastian Pinera

#59. Edward Conard's book represents the most cogent and persuasive analysis of the Financial Crisis to date. It is deeper and likely more accurate than what we have seen so far from journalists, academ- ics, and particularly former government officials.

Andrei Shleifer

#60. You know what's truly weird about any financial crisis? We made it up. Currency, money, finance, they're all social inventions. When the sun comes up in the morning it's shining on the same physical landscape, all the atoms are in place.

Bruce Sterling

#61. No one should have to choose between medicine and other necessities. No one should have to use the emergency room every time a child gets sick. And no one should have to live in constant fear that a medical problem will become a financial crisis.

Brad Henry

#62. The housing and financial crisis could not have occurred in the absence of government housing and monetary policies.

Sheldon Richman

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

Gordon Wu

#64. Just as the financial crisis has created toxic assets and 'zombie' financial institutions, so has it transformed conservatism into a movement of the living dead.

Thomas Frank

#65. So how does the machine work that you have a financial crisis? How does deleveraging work - what is the nature of that machine? And what is human nature, and how do you raise a community of people to run a business?

Ray Dalio

#66. The Obama administration's large and sustained increases in debt raise the specter of another financial crisis and large future tax increases, further chilling business investment and job creation.

Glenn Hubbard

#67. Financial crisis is the moment of truth for real collectors and true artists.

Victor Pinchuk

#68. Soon after the financial crisis of 2008, I was at a meeting in Washington with a group of U.S. senators. They had invited me to provide a point of view on new regulation; regulation aimed at ensuring we never have to go through the events of 2008 ever again.

Bob Diamond

#69. The current financial crisis makes it very clears that the system that we have isn't really working, and this is the right time for us to undo things and build them in a new way.

Muhammad Yunus

#70. Washington's answer to a self-inflicted financial crisis reminded Americans why they so deeply distrust the political class. The 'fiscal cliff' process was secretive and sloppy, and the nation's so-called leadership lacked the political courage to address our root problems: joblessness and debt.

Ron Fournier

#71. Senator Obama will be taking office at a critical juncture. There are many pressing challenges facing the international community, including the global financial crisis and global warming. We look forward to working closely with President-elect Obama and his team to address these challenges.

Helen Clark

#72. Weakness will persist in part because of the vast amounts of debt governments took on during and after the financial crisis.

Anonymous

#73. Being on a movie set is like one long financial crisis.

John Cusack

#74. The current financial crisis calls out for new products and services as well as more, not less, information about what is safe and profitable in the future environment.

Jeremy Siegel

#75. The financial crisis of 2008 was not caused by investment banks betting against the housing market in 2007. It was caused by the fact that too few investors - including all of the big investment banks - bet too heavily on the housing market in the years before 2007.

James Surowiecki

#76. The United States is like the Titanic, and I'm here with the lifeboat trying to get people to leave the ship ... I see a real financial crisis coming for the United States.

Peter Schiff

#77. September and October of 2008 was the worst financial crisis in global history, including the Great Depression,

Ben Bernanke

#78. The times are too difficult and the crisis too severe to indulge in schadenfreude. Looking at it in perspective, the fact that there would be a financial crisis was perfectly predictable: its general nature, if not its magnitude. Markets are always inefficient.

Noam Chomsky

#79. Systematic research supports the message of these cases. As noted in an article in the New York Times, even in the most extreme circumstances - like the financial crisis - directors bore little consequence for their poor decisions.

Jeffrey Pfeffer

#80. With same day loans, you can easily acquire immediate funds, so as to deal with any short term financial crisis. These loans are unsecured in nature and can be applied for even by those with serious credit disputes.

Markus Skupeika

#81. 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.

Gary Weiss

#82. Let us not forget, the financial crisis had its roots in the decision by Congress to embark on a course of social justice to get everyone that wanted a home into one, regardless of whether or not they could afford it.

Ed Royce

#83. With the lessons taken from the financial crisis in 1997, the Republic of Korea has been able to surmount the global economic crisis rather successfully.

Lee Myung-bak

#84. Millions of Americans were duped by the federal government and the Federal Reserve into buying homes they could not afford and failed to count the cost. When the financial crisis of 2008 hit, they could not keep up the monthly mortgage payments and defaulted.

Mark Skousen

#85. I fear the financial crisis of 1998 may become the trade crisis of 1999.

Bill Vaughan

#86. The financial crisis in our country is not a passing storm. Given the size of the problems, our national effort will not be completed in 2012. It will take many years and will require the efforts and insistence of several governments.

Lucas Papademos

#87. Germans longed to be near shit, but not in it. This, as it turns out, is an excellent description of their role in the current financial crisis.

Michael Lewis

#88. Managing and navigating through a financial crisis is no fun at all.

Howard Schultz

#89. During the financial crisis and bailouts of 2008, it probably occurred to very few average people that we were entering a period of hardship for billionaires.

Thomas Frank

#90. Being a person that others can trust is one of the most sought after qualities in the workplace today. So many leaders and their staff have shown in the recent global financial crisis a lack of trust and integrity amongst themselves and with their clients and other stakeholders.

Nigel Cumberland

#91. There are no atheists in foxholes or ideologues in a financial crisis. Ben Bernanke

Andrew Ross Sorkin

#92. There is definitely going to be another financial crisis around the corner because we haven't solved any of the things that caused the previous crisis,

Mark Mobius

#93. The U.S., France, Germany and Canada have all responded to the financial crisis by boosting rather than cutting their science funding. The U.K. has not.

Martin Rees

#94. She [Carolyn Maloney] knows the financial issues, that's why we thought she was perfect because we're in a - we're in, as you know, a financial crisis, an economic crisis, and I know that she'll see the whole picture.

Eleanor Smeal

#95. The United States is much further along because its financial crisis struck three years before Europe's, in 2008, causing headwinds that have pressured it ever since.

Roger Altman

#96. Edward Conard provides a provocative interpretation of the causes of the global financial crisis and the policies needed to return to rapid growth. Whether you agree or not, this analysis is well worth reading.

Nouriel Roubini

#97. The Death of Money is an engrossing account of the massive stresses accumulating in the global financial system, especially since the 2008 financial crisis. Jim Rickards is a natural teacher. Any serious student of financial crises and their root causes needs to read this book.

John H. Makin

#98. We need to ensure the poorest in the planet - who will be hardest hit by the financial crisis - are not forgotten.

Kofi Annan

#99. A financial crisis is a great time for professional investors and a horrible time for average ones.

Robert Kiyosaki

#100. The President and the Democrats on Congress have exploited the financial crisis to advance their socialist big government tax, spend and borrow agenda.

Bradley A. Blakeman