“On private transactions, I'll just go very quickly now, a major difference between the United States and Euroland is that in Europe banks are much more important in financial transactions than in the United States.” ImportantStatesDifferencesUnitedUnited StatesMajorsEuropeFinancialTransactions Author:Robert C. Solomon
“Looking past the immediate crisis, a more resilient system must be built on stronger and better designed shock absorbers, both in the major institutions and in the infrastructure of the financial system.” PastMajorsBuiltStrongerCrisisInstitutionsFinancialShockInfrastructureResilientFinancial SystemShock Absorber Author:Timothy Geithner
“Innovation requires resources to invest, and you can see many companies pulling back and going into an intense protective mode in a major extended period of financial distress.” CompanyPeriodsMajorsResourcesInnovationFinancialIntensePullingDistressProtective Author:Peter Senge
“The major material advantage, financial advantage from having a reserve currency is that between 200 and 300 billion dollar bills, that may be twenty, fifty, hundred dollar bills as well as ones, exist in the world - a lot of them in Russia as you all know I'm sure.” KnowsWorldWellsMayMaterialsMajorsHundredAdvantageTwentiesBillsDollarsFinancialBillionsRussiaFiftyCurrencyReservesDollar Bills Author:Robert C. Solomon
“The best advice that I can offer is that being proactive and a careful planner is key. Think about the major things that could shake up your financial life, and Ill bet there are some great ways to protect yourself.” ThinkingWayI CanAdviceKeysOffersProtectMajorsFinancialIllCarefulShakesBest AdviceProactivePlannersProtect Yourself Author:Alexa Von Tobel
“Under the gold standard America had no major financial panics other than in 1873, 1884, 1890, 1893, 1907, 1930, 1931, 1932, and 1933.” AmericaMoneyMajorsStandardsGoldFinancialPanic1930sGold Standard Author:Paul Krugman
“Major League Baseball's labor negotiations involve two paradoxes. The players' union's primary objective is to protect the revenues of a very few very rich owners - principally, the Yankees'. The owners' primary objective is a more egalitarian distribution of wealth. The union believes that unconstrained spending by the richest three teams pulls up all payrolls. Most owners believe that baseball's problems--competitive imbalance, the parlous financial conditions of many clubs--result from large and growing disparities of what are mistakenly treated as 'local' revenues.” BelieveTwoProblemThreeWealthResultsRichGrowingPlayerTeamConditionsProtectMajorsLaborBaseballUnionsFinancialClubsSpendingLocalsObjectivesTreatedPrimariesLeagueOwnersParadoxNegotiationDistributionRevenueYankeesImbalanceDisparityMajor LeaguePayrollPull UpsDistribution Of WealthMajor League Baseball Author:George Will
“[A] major source of wealth for many families is financial assets, including stocks, bonds, mutual funds, and private pensions. ...the wealthiest 5 percent of households held nearly two-thirds of all such assets in 2013” TwoWealthSourceMajorsPercentThirdsIncludingFinancialFundMutualAssetsHouseholdPensionMutual Fund Author:Janet Yellen
“Consumer spending is now plunging at serious-recession rate ... even if the rescue now in train succeeds in unfreezing credit markets, the real economy has immense downward momentum. In addition to financial rescues, we need major stimulus programs.” IfsNeedsRealEconomySeriousSucceedMajorsProgramTrainRateFinancialCreditSpendingConsumersImmenseRescueMomentumStimulusRecessions Author:Paul Krugman
“Financial institutions are not being bailed out as a favor to them or their stockholders. In fact, stockholders have come out worse off after some bailouts. The real point is to avoid a major contraction of credit that could cause major downturns in output and employment, ruining millions of people, far beyond the financial institutions involved. If it was just a question of the financial institutions themselves, they could be left to sink or swim. But it is not.” PeopleIfsRealFactsLeftCausesMillionsInvolvedMajorsInstitutionsFinancialCreditFavorsEmploymentSwimOutputContractionsFinancial InstitutionsBailoutsDownturnSink Or Swim Author:Thomas Sowell
“If one sentence were to sum up the mechanism driving the Great Stagnation, it is this: Recent and current innovation is more geared to private goods than to public goods. That simple observation ties together the three major macroeconomic events of our time: growing income inequality, stagnant median income, and the financial crisis.” IfsTogetherThreeSimpleGrowingEventsMajorsInnovationCrisisFinancialCurrentsSentencesDrivingIncomeObservationInequalityTiesOur TimeGoodsMechanismStagnationStagnantFinancial CrisisIncome InequalityOne SentenceMacroeconomicsMedian Author:Tyler Cowen
“My coaching staff gets to go to the World Series. From a financial perspective that's great for coaches because baseball coaches in the Major League level don't really make that much money. People don't realize that.” PeopleWorldRealizingLevelsPerspectiveMajorsBaseballSeriesFinancialCoachesLeagueCoachingStaffWorld SeriesMajor LeagueBaseball CoachCoaching Staff Author:Joe Maddon
“Once writing has become your major vice and greatest pleasure only death can stop it. Financial security then is a great help as it keeps you from worrying.” WritingHelpingPleasureWorrySecurityMajorsFinancialVicesGreatest PleasuresFinancial Security Author:Ernest Hemingway
“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.” WayWantShowsJobsPoliticalOpportunityResponsibilityMoralPracticeDoorsIndustryMajorsCrisisInstitutionsFinancialAnalysisFlawsRegulationPolitical SystemsGreat OpportunityFinancial CrisisOversightBriberyRevolvingRegulatorsFinancial SystemShowcaseFinancial InstitutionsRevolving DoorsBazaars Author:Thomas Pogge
“And, unlike the earlier bombing on the World Trade Center, a major landmark and symbol of the strength of the financial world was, not just damaged but, totally destroyed.” WorldMajorsTradeFinancialDestroyedSymbolsBombingScientismLandmarksWorld TradeWorld Trade Center Author:Allen Klein
“If you don't have a functioning financial system the world economy won't be revived. All the major economies have their responsibility to assist at a pace which is required to clean up the balance sheet of the banking system and to ensure that credit flows are resumed.” IfsWorldResponsibilityEconomyBalanceMajorsFlowCleanFinancialCreditPaceSheetsBankingBanking SystemWorld EconomyFinancial SystemBalance Sheets Author:Manmohan Singh
“'Nobody goes to jail.' This is the mantra of the financial-crisis era, one that saw virtually every major bank and financial company on Wall Street embroiled in obscene criminal scandals that impoverished millions and collectively destroyed hundreds of billions, in fact, trillions of dollars of the world's wealth - and nobody went to jail.” WorldFactsWealthCompanyMillionsSawsStreetsWallMajorsCrisisDollarsFinancialCriminalsBillionsDestroyedErasJailScandalMantrasObsceneFinancial Crisis Author:Matt Taibbi