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Crisis Quotes

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Crisis Quotes

“It is precisely those members of Congress who have had the most to do with creating the risks that led to the current economic crisis who are making the most noise against others, and summoning people before their committee to be browbeaten and humiliated on nationwide television.”

“Nowhere does it say that investors should strive to make every last dollar of potential profit; consideration of risk must never take a backseat to return. Conservative positioning entering a crisis is crucial: it enables one to maintain long-term oriented, clear thinking, and to focus on new opportunities while others are distracted or even forced to sell. Portfolio hedges must be in place before a crisis hits. One cannot reliably or affordably increase or replace hedges that are rolling off during a financial crisis.”

“This is a massive crisis for the press, and the degree now that the press revs up its scrutiny and its opposition to Donald Trump, as opposed to being neutral and fair to Donald Trump - they will compound their own problem, because Republicans don't trust them, independents largely don't trust them, and the press risks just being credible to only one party in America.”

“I think the right way to do this is just to step up and do it, so I actually think we'll see more of that over the next coming weeks, because I think they'll say, "We'd like to be good for business and quiet on politics, but this is too urgent, it is too much of a key crisis in who we are going to become as Americans. We can risk too much, and so we have to step forward." And I think you will see more and more people stepping forward, like Howard Schultz, Steve Case and other folks, in order to try to make a difference in this [Donald Trump] election.”

“There's no getting around the fact that some cities face long odds, and governments and societies are going to be confronted with some hard decisions. Most importantly, cities have to recognize that in times of crisis they have to help themselves. Governments, no matter how well intentioned, can only do so much, especially when they themselves are so strapped for cash, as the U.S. is now. Government money will probably flow to cities and regions with good prospects for the future, so as not to risk money even further by pouring it into stalled economic models.”

“Leaders may recognize that they are not addressing the real problems, but they rationalize their actions with the argument that they must first politically survive in order to later address the hard problems and sacrifices. Of course, they usually don't ever actually get around to addressing the fundamental problems later, either because they don't make it through the initial crisis or because, even later, they are not willing to risk sacrificing their own position or "career" with needed measures that usually require tough sacrifices by the population.”

“None of us wants to admit that we hate someone... When we deny our hate we detour around the crisis of forgiveness. We suppress our spite, make adjustments, and make believe we are too good to be hateful. But the truth is that we do not dare to risk admitting the hate we feel because we do not dare to risk forgiving the person we hate.”

“However, optimism is highly valued, socially and in the market; people and firms reward the providers of dangerously misleading information more than they reward truth tellers. One of the lessons of the financial crisis that led to the Great Recession is that there are periods in which competition, among experts and among organizations, creates powerful forces that favor a collective blindness to risk and uncertainty.”

“The great fear that I have regarding the outcome for America of these disclosures is that nothing will change. [People] won't be willing to take the risks necessary to stand up and fight to change things And in the months ahead, the years ahead, it's only going to get worse. [The NSA will] say that because of the crisis, the dangers that we face in the world, some new and unpredicted threat, we need more authority, we need more power, and there will be nothing the people can do at that point to oppose it. And it will be turnkey tyranny.”

“The financial crisis has underscored how insufficient attention to fundamental corporate governance concepts can have devastating effects on an institution and its continued viability. It is clear that many banks did not fully implement these fundamental concepts. The obvious lesson is that banks need to improve their corporate governance practices and supervisors must ensure that sound corporate governance principles are thoroughly and consistently implemented.”

“Here at home, ... while the most likely scenario remains solid growth and low inflation -- subject to the usual ups and downs -- certain sectors have been impacted by the crisis, some because of increased imports and others because of decreased exports. Moreover, problems in the global economy do constitute a risk to all our overall economic well-being.”

“Neurotic identity crises come when our defense mechanisms have been too successful and we're encapsulated in the fortress we have constructed with nothing to refresh us in our solitary confinement. So we play the old movies with their stale fears and their unrealistic hopes until we become bored enough to risk disarmament and engagement.”