A Quote by Adena Friedman
If you really think about the fabric of the United States, or the finance of any economy, finance is a true underpinning of what makes the economy great - if it can be done successfully, responsibly, and with a client orientation.
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I believe strongly that we need a finance industry that is good for the economy, and I don't think anybody would argue that during the eight years leading up to the Great Recession, a lot of bets were made [and] risks taken that weren't good for the economy.
Most people think of the economy as producing goods and services and paying labor to buy what it produces. But a growing part of the economy in every country has been the Finance, Insurance and Real Estate (FIRE) sector, which comprises the rent and interest paid to the economy's balance sheet of assets by debtors and rent payers.
The finance enchains with golden bonds states and peoples, the economy becomes nomadic, the life uprooted.
So, what people are actually left with to spend is maybe 25 to 30% of their income on goods and services, after paying taxes and after paying the FIRE sector (Finance, Insurance, Real Estate). Whether it's housing insurance or mortgage insurance. So there's an idea of distracting people. Don't think of your condition. Think of how the overall economy is doing. But don't think of the economy as an overall unit. Think of the stock market as the economy. Think of the rich people as the economy. Look at the yachts that are made. Somebody's living a lot better. Couldn't it be you?
Finance is wholly different from the rest the economy.
In the 'Nike Economy,' there are no standards, no borders and no rules. Clearly, the global economy isn't working for workers in China and Indonesia and Burma any more than it is for workers here in the United States.
Undoubtedly, for Mexico, it is very important for the United States to do well and for the United States to have a strong economy. And for the United States it's also very convenient for the Mexican economy to also do well.
This has been a huge problem for a very long period of time that we have, that Mexico's economy and Mexico's socialist orientation makes it so that people want to come to the United States in such numbers. I wish that we could figure out a way to do this in a legal fashion because I believe in the Latino culture.
Some of the people in finance touch enormous parts of the economy.
Goldman Sachs was one of those companies whose illegal activity helped destroy our economy and ruin the lives of millions of Americans. But this is what a rigged economy and a corrupt campaign finance system and a broken criminal justice is about. These guys are so powerful that not one of the executives on Wall Street has been charged with anything after paying, in this case of Goldman Sachs, a $5 billion fine.
Our goal is to make finance the servant, not the master, of the real economy.
Today it's fashionable to talk about the New Economy, or the Information Economy, or the Knowledge Economy. But when I think about the imperatives of this market, I view today's economy as the Value Economy. Adding value has become more than just a sound business principle; it is both the common denominator and the competitive edge.
What is urgently needed is a bold new move from a consumer economy to a conserver economy in all of the developed countries, and particularly in the United States.
If you look on Amazon - if you do a search for personal finance, there are literally 20,000 books written on personal finance, and there's no real reason for it. I mean, personal finance is pretty simple.
Chidamabaram has ruined the economy. He has turned out to be a third-rate failure as finance minister.
Don't negotiate with terrorists; patent trolls have done more damage to the United States economy than any domestic or foreign terrorist organization in history, every year.
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