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Majors Quotes

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Majors Quotes

“Informal relationships are not mere minor interstitial supplements to the major institutions of society. These informal relationships not only include important decision-making processes, such as the family, but also produce much of the background social capital without which the other major institutions of society could not function nearly as effectively as they do.”

“The commission of the investment sins listed above is not limited to 'the little guy.' Huge institutional investors, viewed as a group, have long underperformed the unsophisticated index-fund investor who simply sits tight for decades. A major reason has been fees: Many institutions pay substantial sums to consultants who, in turn, recommend high-fee managers. And that is a fool's game.”

“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.”

“That's been lost. It's a huge problem. What you have is you have the major institutions of the world all wanting to deleverage. They want to take down their assets and liabilities. What seemed so easy to borrow against a year ago now looks like rat poison to them. So they're trying to deleverage. There is only one institution in the world that can leverage up in a way that's all a countervailing force to that, and that's the United States Treasury.”

“Major efforts have to be undertaken to bring the general public to understand the real reasons for their plight, and the possibilities for radical social and political change to construct meaningful popular control of all institutions - in communities, in the workplace, in the larger society, and on to the international order.”

“You can take a look at the enrollment at major institutions of higher learning. It's 65% female, 35% male. One of the reasons is, men don't want to go there anymore.But this is a manifestation... Remember our old buddy James Brown addressing men, said that it's time to shape up or ship out. He said we have got to stop this business of making fun of men who "throw like girls."”

“There's kind of a hidden point which isn't being brought out, and that is that it is inconceivable that the U.S. would permit democracy in the Middle East, and for a very simple reason. Just take a look at polls of Arab public opinion. They exist. You can't find them in the press, but they exist from prestigious polling agencies. Released by major institutions. And what they show is that if there was democracy in the Middle East, the entire U.S. program for domination of the Middle East would be down the tube.”

“There is no doubt that the Fed's large-scale asset purchases have caused major increases in a number of asset prices in the economy. This is especially true of mortgage backed securities and corporate bonds, and quite possibly of equities as well. For those people and institutions holding those things, the run up in prices has been a wealth bonanza.”

“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.”