The people of the United States suffer from periodical financial panics to a degree substantially unknown to the other nations, which approach us in financial strength. There is no reason why we should suffer what they escape. It is of profound importance that our financial system should be promptly investigated, and so thoroughly and effectively revised as to make it certain that hereafter our currency will no longer fail at critical times to meet our needs.
Theodore Roosevelt
» Theodore Roosevelt - all quotes »
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
New York used to be the financial capital of the world. It's no longer even the financial capital of the U.S. For the moment, Washington is.
Ian Bremmer
"Brazil is in a solid position. In the past, if the United States sneezed, we caught pneumonia. Today, if the United States sneezes, we sneeze too." (Financial Times, July 7, 2006 )
Luiz Inacio Lula da Silva
I have been hearing for years and years about how the financial services sector pays such exorbitant wages because the people who work there are so immensely talented that they are cheap at $50 million a year. I never particularly bought that line before. But I never imagined that all those Masters of the Universe would do quite this badly. If we had paid them $50 million a year to go far, far away and leave our financial system alone, it would have been a bargain.
Hilary Bok
I have been hearing for years and years about how the financial services sector pays such exorbitant wages because the people who work there are so immensely talented that they are cheap at $50 million a year. I never particularly bought that line before. But I never imagined that all those Masters of the Universe would do quite this badly. If we had paid them $50 million a year to go far, far away and leave our financial system alone, it would have been a bargain.
Hilzoy
Roosevelt, Theodore
Rorem, Ned
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