Best Quotes on the Financial Crisis → Washingtons Blog

Tuesday, April 7, 2009

Best Quotes on the Financial Crisis

In case you missed them, here are some of the best quotes from the last few weeks on the financial crisis:

"The way Tim Geithner has structured the banking plan, the Obama Administration will, sooner or later, almost certainly be facing another AIG bonuses-type of outrage."

“Worsening economic figures are being used to confirm that more bailouts are needed rather than that previous ones might be failing. The logic is much like medieval blood letting: The patient died because we didn't drain Enough of his blood.”

Senior S&L Regulator Says Government Engaging in Massive Cover-Up of Economic Crisis: "The entire strategy is to keep people from getting the facts"

Nobel economist Paul Krugman: "These days America is looking like the Bernie Madoff of economies: For many years it was held in respect, even awe, but it turns out to have been a fraud all along"

Nobel economist Joseph Stiglitz: "Quite frankly, this amounts to robbery of the American people. I don't think it's going to work because I think there'll be a lot of anger about putting the losses so much on the shoulder of the American taxpayer."

Congress Grayson: "Stop stealing our money"

Economist: "What we have is something perilously close to a dictatorship of the Fed and the Treasury, acting in the interests of Wall Street"

"The real AIG scandal is that the company's trading partners are getting fully paid rather than taking a haircut."

Former AIG chief: Government used AIG "to funnel money to other institutions, including foreign banks"

Analyst: "Technically, the U.S. is already bankrupt because it has a debt that is almost four times the size of its economy"

Leading economist: ""The Treasury is spreading the fire, not putting it out"

Nobel Economist Ed Prescott: ""Don’t subsidize inefficiency.... let these businesses go bankrupt. They gambled, they lost. That’s part of life"

Nobel economist Myron Scholes: Existing over-the-counter CDS should be ""blown up" and closed out"

TARP watchdog: "We do not seem to be a priority for the Treasury Department"

TARP watchdog: "The very notion that anyone would infuse money into a financially troubled entity without demanding changes in management is preposterous."

Obama to Bankers: "“My administration is the only thing between you and the pitchforks."

1 comment:

Doug HartJanuary 28, 2011 at 6:21 PM
Our whole economy is one giant ponzi scheme, Bernie Madoff was just using what works best, I think.

funny inspirational quotes
ReplyDelete
Replies

Add comment

→ Thank you for contributing to the conversation by commenting. We try to read all of the comments (but don't always have the time).

→ If you write a long comment, please use paragraph breaks. Otherwise, no one will read it. Many people still won't read it, so shorter is usually better (but it's your choice).

→ The following types of comments will be deleted if we happen to see them:

-- Comments that criticize any class of people as a whole, especially when based on an attribute they don't have control over

-- Comments that explicitly call for violence

→ Because we do not read all of the comments, I am not responsible for any unlawful or distasteful comments.

Tuesday, April 7, 2009