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The Treasury plan is a disgrace: a bailout of reckless bankers, lenders and investors that provides little direct debt relief to borrowers and financially stressed households and that will come at a very high cost to the US taxpayer. And the plan does nothing to resolve the severe stress in money markets and interbank markets that are now close to a systemic meltdown.
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"RGE Conference Call on the Economic and Financial Outlook... and why the Treasury TARP bailout is flawed," RGE Monitor (2008-09-26)

 

Nouriel Roubini

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The US is not a superpower. The US is a financially dependent country that foreign lenders can close down at will.

 

Paul Craig Roberts

 

The Republican Party has been captured by a bunch of extremists … People who maintain that markets will take care of everything, that you leave it to the markets and the markets know best. Therefore, you need no government, no interference with business. Let everybody pursue his own interests. And that will serve the common interest. Now, there is a good foundation for this. But it's a half-truth.

 

George Soros

 

I think there's a lot of merit in an international economy and global markets, but they're not sufficient because markets don't look after social needs. Markets are designed to allow individuals to look after their private needs and to pursue profit. It's really a great invention and I wouldn't under-estimate the value of that, but they're not designed to take care of social needs.

 

George Soros

 

Financial markets are supposed to swing like a pendulum: They may fluctuate wildly in response to exogenous shocks, but eventually they are supposed to come to rest at an equilibrium point and that point is supposed to be the same irrespective of the interim fluctuations. Instead, as I told Congress, financial markets behaved more like a wrecking ball, swinging from country to country and knocking over the weaker ones.
It is difficult to escape the conclusion that the international financial system itself constituted the main ingredient in the meltdown process.

 

George Soros

 

I don't think there's necessarily a story, but there's definitely a theme here. One of my favorite kind of dark jokes is, "How do you make God laugh? You make a plan." Nobody ever makes a plan that they're gonna go out and get hit by a car. A plan almost always has a happy ending. Essentially, every plan is a tiny prayer to Father Time. I really like the idea of a plan not being seen as having definite outcomes, but more like little wishes.

 

Ben Gibbard