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Crisis Quotes

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Crisis Quotes

“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.”

“This separation of government from people, this widening of the gap, took place so gradually and so insensibly, each step disguised (perhaps not even intentionally) as a temporary emergency measure or associated with true patriotic allegiance or with real social purposes. And all the crises and reforms (real reforms, too) so occupied the people that they did not see the slow motion underneath, of the whole process of government growing remoter and remoter.”

“Fannie Mae and Freddie Mac - two bloated and corrupt government-sponsored programs - contributed heavily to the crisis.In order to prevent another crisis, we need to do what we should have done years ago - reform Fannie Mae and Freddie Mac. We also need to repeal Dodd-Frank, the Democrats' failed solution. Under Dodd-Frank, 10 banks too big to fail have become five banks too big to fail. Thousands of community banks have gone out of business.”

“The G20 was established as a forum to discuss, first and foremost, world economic issues. If we load it with... Of course, politics affects economic processes, this is obvious, but if we bring some squabbles, or not squabbles, rather, some matters that are really important but relate purely to world politics, we will overload the G20 agenda and instead of addressing such issues as finance, structural economic reforms, tax evasion and so forth, we will engage in endless debates concerning the Syrian crisis or some other global challenges, of which there are many, or the Middle East problem.”

“It does not appear, nor is there any reason to believe that [ Jeff Sessions] will put policing reform front and center in the way that this justice department has, and that will mean that we cast aside eight years of hard work, blood, sweat and tears that have gone into bringing cities and mayors and communities to the table to address what truly is a national crisis.”

“The IMF is a more complicated issue. I think there is a broad sentiment among both the left and the right that the IMF may be doing more harm than good. On the right, there's the view that it represents a form of corporate welfare that is counter to the IMF's own ideology of markets. But anybody who has watched government from the inside recognizes that governments need institutions, need ways to respond to crises. If the IMF weren't there, it would probably be reinvented. So the issue is fundamentally reform.”

“The states is where resistance is opposition to Obamacare is taking place. The states is where tax reform is taking place, starting. The states is where whatever opposition to the latest crisis of the day is, be it health care, immigration, or guns. The states - the majority of which have Republican governors - are where this is all being dealt with, and you're not hearing about it. They don't get a lot of press coverage, but that's where this is happening.”

“On the way from the Renaissance to our days we have enriched our experience, but we have lost the concept of a Supreme Complete Entity which used to restrain our passions and our irresponsibility. We have placed too much hope in political and social reforms, only to find out that we were being deprived of our most precious possession: our spiritual life. In the East, it is destroyed by the dealings and machinations of the ruling party. In the West, commercial interests tend to suffocate it. This is the real crisis.”