A Quote by Henry Paulson
If AIG collapsed, it would have buckled our financial system and wrought economic havoc on the lives of millions of our citizens.
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Haven't we all grown up trusting high street banks? Their branches were fixtures, not only in our towns and cities, but in the way our lives ran. Yet it is no exaggeration to say that thousands, possibly millions of us, instead of being helped have found our lives permanently damaged by the toxic U.K. financial system.
An AIG failure would have been devastating to the financial system and to the economy.
The havoc wrought by war, which one compares with the havoc wrought by nature, is not an unavoidable fate before which man stands helpless. The natural forces that are the cause of war are human passions, which it lies in our power to change. What are culture and civilization if not the taming of blind forces within us as well as in nature?
American culture is torn between our long romance with violence and our terror of the devastation wrought by war and crime and environmental havoc.
Besides taking jobs from American workers, illegal immigration creates huge economic burdens on our health care system, our education system, our criminal justice system, our environment, our infrastructure and our public safety.
Trust in our economic system and the genius and hard work of our citizens beyond the mandate and control of government.
We complain of the increased tempo of our lives, but our frenetic lives are just reflection of the economic system that we have created.
When you look at the damage that many of the policies that Donald Trump has proposed can do to our citizens of the US - you can compare him to Major Storms Harvey, Irma, Maria. We're talking about life or death issues and about repealing the Affordable Care Act. There are lives at stake. Something that would affect millions and millions of people. I think it's totally appropriate. Obviously, it's a metaphor. It's not to be taken literally. But I mean that when I talk about the damage and the trauma that has been brought into our lives because of his presidency, that that's very real.
We have a responsibility as a state to protect our most vulnerable citizens: our children, seniors, people with disabilities. That is our moral obligation. But there is an economic justification too - we all pay when the basic needs of our citizens are unmet.
Our example - and commitment - to freedom has changed the world. But along with the genius of our Declaration of Independence, our Constitution, and our Bill of Rights, is the equal genius of our economic system. Our Founding Fathers endeavored to create a moral and just society like no other in history, and out of that grew a moral and just economic system the likes of which the world had never seen. Our freedom, what it means to be an American, has been defined and sustained by the liberating power of the free enterprise system.
When our financial system - essentially our money managers, marketers of investment products and stockbrokers - put up zero percent of the capital and assume zero percent of the risk yet receive fully 80% of the return, something has gone terribly wrong in our financial system.
Our outworn economic system dooms millions to frustration.
I think that many citizens understand how our system works, or rather, fails to work, for structural reasons. But who has the capacity and the incentives to bring change? The banks and other corporations love the system because it allows them to buy legislation that serves their own interests even at the expense of the vast majority of citizens. Incumbent politicians love the system because it allows them to raise millions of dollars toward defending their seats.
The Libor system is structurally flawed. It is a major problem for our financial system and for the confidence in the financial system. We need to address it.
You have increasing poverty and increasing wealth. Fine food is one way to dispense with a lot of money... It's understanding that our daily choices about food connect us to a worldwide economic system. And that economic system - not scarcity - creates worldwide hunger for millions of people.
No matter how the financial system is set up, no matter what the economic system is, as long as you have people, you're going to have financial crises; you're going to have bubbles that manifest themselves in the financial system.
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