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Bankers grovelled before the governments they usually revile, like wispy poets whining for grant money. They got billions in bailouts, yet somehow the financial sector still inspires more trust and respect than the government that saved it from itself.
--
Chapter Five, Bully vs. Nerd, p. 168

 

Laura Penny

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If this government wants to be fair dinkum, then it must stop kowtowing to financial markets, international organisations, world bankers, investment companies and big business people. The Howard government must become visionary and be prepared to act, even at the risk of making mistakes.

 

Pauline Hanson

 

As far as culture and politics are concerned, the important theme is long-attention-span vs. short-attention-span thinking. I'm sure that your readers can think of any number of ways in which having a longer attention span can be useful. But I'll name one. Bankers with long attention spans don't lend money to people who can't pay it back. If we had more bankers who adopted a long-term view of their responsibilities, we might not be in the middle of a financial crisis that is blowing away 150-year-old investment banks.

 

Neal Stephenson

 

I never said it. Honest. Oh, I said there are maybe 100 billion galaxies and 10 billion trillion stars. It's hard to talk about the Cosmos without using big numbers. I said 'billion' many times on the Cosmos television series, which was seen by a great many people. But I never said 'billions and billions.' For one thing, it's imprecise. How many billions are 'billions and billions'? A few billion? Twenty billion? A hundred billion? 'Billions and billions' is pretty vague... For a while, out of childish pique, I wouldn't utter the phrase, even when asked to. But I've gotten over that. So, for the record, here it goes: 'Billions and billions.'

 

Carl Sagan

 

Socialist governments traditionally do make a financial mess. They always run out of other people's money. It's quite a characteristic of them.

 

Margaret Thatcher

 

So the game plan is not merely to free the income of the wealthiest class to “offshore” itself into assets denominated in harder currencies abroad. It is to scrap the progressive tax system altogether. ... How stable can a global situation be where the richest nation does not tax its population, but creates new public debt to hand out to its bankers? ... The “solution” to the coming financial crisis in the United States may await the dollar’s plunge as an opportunity for a financial Tonkin Gulf resolution. Such a crisis would help catalyze the tax system’s radical change to a European-style “Steve Forbes” flat tax and VAT sales-excise tax.... More government giveaways will be made to the financial sector in a vain effort to keep bad debts afloat and banks “solvent.” As in Ireland and Latvia, public debt will replace private debt, leaving little remaining for Social Security or indeed for much social spending. ... The bottom line is that after the prolonged tax giveaway exacerbates the federal budget deficit – along with the balance-of-payments deficit – we can expect the next Republican or Democratic administration to step in and “save” the country from economic emergency by scaling back Social Security while turning its funding over, Pinochet-style, to Wall Street money managers to loot as they did in Chile. And one can forget rebuilding America’s infrastructure. It is being sold off by debt-strapped cities and states to cover their budget shortfalls resulting from un-taxing real estate and from foreclosures. Welcome to debt peonage. This is worse than what was meant by a double-dip recession. It will be with us much longer. - December 2010

 

Michael (economist) Hudson