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Crisis Quotes

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Crisis Quotes

“Certain elements of today's ecological crisis reveal its moral character. First among these is the indiscriminate application of advances in science and technology. Many recent discoveries have brought undeniable benefits to humanity. Indeed, they demonstrate the nobility of the human vocation to participate responsibly in God's creative action in the world. Unfortunately, it is now clear that the application of these discoveries in the fields of industry and agriculture have produced harmful long-term effects.”

“The financial services industry has seemed to treat the crisis like a little rainfall - inconvenient, but no significant changes needed. The real question moving forward is how the industry will respond to Wall Street reform and growing public anger.”

“For example, the insurance industries and the big banks are absolutely euphoric now - on the business pages they don't even conceal it - because they've succeeded in coming out of the crisis even stronger than they were before, and in a better position to lay the basis for the next crisis. But they don't care, because they'll get bailed out again. That's class consciousness with a vengeance.”

“Beside the two wars he inherited in Iraq and Afghanistan, and promised to end, a financial crisis at home had pushed the United States to the brink of another Great Depression. When we spoke with the new president in March of 2009, the economy was losing 800,000 jobs a month, the government was throwing hundreds of billions of dollars at failing banks, and the auto industry was on the verge of collapse. Politically pummeled from all sides, Obama did his best to keep a sense of humor.”

“Barack Obama is telling the banking industry what it can and can't charge and what profit he will accept and what level of profit he won't accept. Bill Clinton and Jimmy Carter came up with this scheme that resulted in the subprime mortgage crisis. They said it was unfair that poor and minority people didn't have houses, so we're basically gonna give 'em houses. How are we gonna do that? We're going to make the banks loan them money, knowing full well they can't pay it back.”

“Every year, the average American eats as much as 33 pounds of cheese. That's up to 60,000 calories and 3,100 grams of saturated fat. So why do we eat so much cheese? Mainly it's because the government is in cahoots with the processed food industry. And instead of responding in earnest to the health crisis, they've spent the past 30 years getting people to eat more. This is the story of how we ended up doing just that.”

“The global financial crisis is a great opportunity to showcase and propagate both causal and moral institutional analysis. The crisis shows major flaws in the way the US financial system is regulated and, more importantly, in our political system, which is essentially a bazaar of legalized bribery where financial institutions can buy themselves the governmental regulations they want, along with the regulators who routinely receive lucrative jobs in the industry whose oversight had formerly been their responsibility, the so-called revolving-door practice.”