“If you wanted to create jobs in a way that has minimal effect on the deficit but has government action, the two best things you could do are the infrastructure bank and a simple SBA-like loan guarantee for all building retrofits, where the contractor or the energy-service company guarantees the savings. So that allows the bank to loan money to let a school or a college or a hospital or a museum or a commercial building unencumbered by debt to loan it on terms that are longer, so you can pay it back only from your utility savings. You could create a million jobs doing that.” IfsWayTwoGovernmentActionWantedSchoolJobsEnergyTermSimplePayCompanyMillionsEffectsBuildingCollegeDebtSavingBest ThingsGuaranteesHospitalsMuseumsInfrastructureDeficitLoanUtilitySavingsContractor Author:William J. Clinton
“The great common people of this country are slaves, and monopoly is the master. . . . The politicians said we suffered from overproduction. Overproduction, when 10,000 little children, so statistics tell us, starve to death every year in the United States. . . . We will stand by our homes and stay by our fireside by force if necessary, and we will not pay our debts to the loan-shark companies until the government pays its debts to us.” PeopleIfsYearsChildrenLittlesSaidCountryStatesHomeGovernmentForceUnitedCommonPayCompanyUnited StatesMastersPoliticianSlaveDebtStatisticsLoanMonopolySharks Author:Mary Elizabeth Lease
“We want the accursed foreclosure system wiped out.... We will stand by our homes and stay by our firesides by force if necessary, and we will not pay our debts to the loan-shark companies until the government pays its debts to us.” IfsWantHomeGovernmentForcePayCompanyDebtLoanSharksForeclosure Author:Mary Elizabeth Lease
“American business would be run better today if there was more alignment between CEOs' interest and the company. For example, would the financial crisis of 2008 have occurred if the CEO of Lehman and Morgan Stanley and Goldman and Citibank had to take a very small percentage of every mortgage-backed security... or every loan they made?” IfsMadeWould BeRunningTodayInterestCompanySecurityExampleCrisisFinancialCeoLoanPercentagesMortgageAlignmentFinancial CrisisStanleyAmerican BusinessCitibank Author:Aubrey McClendon
“Resolution Trust Company was set up to liquidate a bunch of assets that the government had inherited because the savings and loans went broke. So the savings and loans went broke, the government stepped in, paid off depositors, and now they're left with this mass of assets to sell. We're not talking about selling here, we're talking about buying intelligently. They were selling what they got handed to them by a bunch of savings and loan operators that had in many cases had done some very dumb thing. But their job was to liquidate it. And they liquidated.” DoneGovernmentJobsLeftCompanyTalkingCasesMassPaidSellsBunchSellingSavingBrokeDumbBuyingResolutionAssetsLoanSavingsNot TalkingOperatorsPaid OffDumb Things Author:Howard Warren Buffett
“If two parties, instead of being a bank and an individual, were an individual and an individual, they could not inflate the circulating medium by a loan transaction, for the simple reason that the lender could not lend what he didn't have, as banks can do. Only commercial banks and trust companies can lend money that they manufacture by lending it.” IfsTwoReasonIndividualCan DoSimplePartyCompanyMediumsLoanTransactionsLendingLendersCommercial Banks Author:Irving Fisher
“The credit card companies have put the loan sharks out of business.” CompanyCreditCardsLoanSharksCredit Card Author:Elizabeth Warren