“I would very honestly just tell you that what I tried to do was simply respond to inquiries from people as they came in. Where I've thought I could say something useful, I've tried to add a voice that was, frankly, a dissident voice earlier on, but one that I think has become a more mainstream voice-and not because I've shifted. I think that the critique I had of what was going on in our financial system from six, eight years ago-after seeing some of what we've suffered through and even since the cataclysm itself-in terms of the structural changes.” PeopleThinkingYearsVoiceTermSeeingSixYears AgoAddFinancialEightHonestlyMainstreamInquiryCritiqueDissidentsFinancial System Author:Eliot Spitzer
“We are all used to paying a sales tax when we buy things - almost 9 percent here in New York City. The application of this concept to the financial sector could solve our need for revenue, bring some sanity back into the financial sector, and give us a way to raise the revenue we need to run the government in a fiscally responsible way.” WayNeedsGivingGovernmentRunningUsedCitiesNew YorkTaxesPercentConceptsResponsibleRaisesFinancialSolveNew York CityApplicationSanityRevenueSales Tax Author:Eliot Spitzer
“Don't reward bad behavior. It is one of the first rules of parenting. During the financial cataclysm of 2008, we said it differently. When we bailed out banks that had created their own misfortune, we called it a 'moral hazard,' because the bailout absolved the bank's bad acts and created an incentive for it to make the same bad loans again.” FirstsSaidMoralBehaviorParentingRewardsFinancialMisfortunesIncentivesLoanHazardsBad BehaviorBailoutsMoral Hazard Author:Eliot Spitzer
“Imagine if the pension funds and endowments that own much of the equity in our financial services companies demanded that those companies revisit the way mortgages were marketed to those without adequate skills to understand the products they were being sold. Management would have to change the way things were done.” IfsWayDoneCompanyImagineProductsSkillsManagementFinancialFundEquityAdequateMortgagePensionEndowmentFinancial Services Author:Eliot Spitzer
“Once again, the puppets on Capitol Hill are about to slam the Muppets on Main Street. The country still hasn't recovered from the Wall Street-induced financial cataclysm of 2008, yet Congress is preparing to enact the Orwellian 'JOBS Act' - a bill that should in fact be called the 'Return Fraud to Wall Street in One Easy Step Act.'” ShouldStillsCountryFactsJobsEasyStepsStreetsWallReturnBillsFinancialCongressHillsFraudPreparingPuppetsSlamCapitolMain StreetMuppetOrwellianCapitol Hill Author:Eliot Spitzer
