In a cruel irony, speculators

 

In a cruel irony, speculators - rather then elected politicians - are the shots on crisis management. In an absurd logic, those who foster financial turbulence have been invited by the G7 Finance ministers to identify policies which attenuate financial turbulence.
--
Economic Warfare, Chapter 21, p. 327

 

Michel Chossudovsky

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The public are entitled to have an absolute guarantee of the financial probity and integrity of their elected representatives, their officials and above all of Ministers. They need to know that they are under financial obligations to nobody.

 

Bertie Ahern

 

The United States is not going in there to save the oppressed. If we wanted to save the oppressed we could have supported the nonviolent movement instead of selling them out at Dayton. Any kind of turbulence in the Balkans is a threat to the interests of rich, privileged, powerful people. Therefore, any turbulence in the Balkans is called a crisis. The same circumstances would not be a crisis were they to occur in Sierra Leone, or Central America, or even Turkey. But in Europe, the heartland of American economic interests, any threat in the Balkans has the possibility of spilling over.

 

Noam Chomsky

 

We developed a mutual respect for one another. Schwarz was an extremely able MP with a good financial brain, and a hard worker who could devastate National Party members in Parliament, especially Ministers of Finance, who feared his vigorous attacks. Like me, he could be unpleasant both in and out of the House.

 

Harry Schwarz

 

Globalization creates interlocking fragility, while reducing volatility and giving the appearance of stability. In other words it creates devastating Black Swans. We have never lived before under the threat of a global collapse. Financial Institutions have been merging into a smaller number of very large banks. Almost all banks are interrelated. So the financial ecology is swelling into gigantic, incestuous, bureaucratic banks — when one fails, they all fall. The increased concentration among banks seems to have the effect of making financial crisis less likely, but when they happen they are more global in scale and hit us very hard. We have moved from a diversified ecology of small banks, with varied lending policies, to a more homogeneous framework of firms that all resemble one another. True, we now have fewer failures, but when they occur... I shiver at the thought.

 

Nassim Nicholas Taleb

 

Neither Barack Obama nor John McCain had much of value to say about the financial crisis as it raged through the headlines this fall. Rather than shred their campaign strategies, they played it safe, as most politicians would have. But in the name of justice we ought to recall that there was one candidate who did foresee our predicament with considerable accuracy when it still lay far in the future. Ron Paul, in almost every speech he made during the Republican primaries, spoke of bubbles, reckless credit growth, and the "unsustainability" of present policy. So why isn't there more demand for the common-sense solutions he put forward? Because common sense is not much use in a financial panic.

 

Ron Paul