A Quote by Alan Greenspan

Institutions of the newer participants in global finance had not been tested, until recently...recent crisis have underscored certain financial structure vulnerabilities that are not readily assuaged in the short run.

Alan Greenspan

Quote Topics

Been Certain Crisis Finance Financial Global Had Institutions Participants Readily Recent Recently Run Short Structure Tested Until Vulnerabilities

Quote Author

Alan Greenspan
American - Economist
Born: March 6, 1926

The global financial crisis is a great opportunity to showcase and propagate both causal and moral institutional analysis. The crisis shows major flaws in the way the US financial system is regulated and, more importantly, in our political system, which is essentially a bazaar of legalized bribery where financial institutions can buy themselves the governmental regulations they want, along with the regulators who routinely receive lucrative jobs in the industry whose oversight had formerly been their responsibility, the so-called revolving-door practice.

Thomas Pogge

Fortunately, when Korea was struck by the 1997/8 financial crisis, that was a good opportunity for us to engage in fundamental reforms and strengthen our financial structure. As a result, our financial regulatory structure and regime have been very much strengthened.

Lee Myung-bak

Regulators around the world have achieved an unprecedented level of collaboration since the financial crisis to create global standards for financial institutions. American regulators have largely viewed these international standards as a floor, and imposed higher standards on U.S. institutions.

James P. Gorman

I'm not against international institutions that would try to tackle global warming. But the way to go, at least in the short run, is to go to nuclear power. It's amazing to me that people who are so alarmed about global warming are so reluctant to adopt the obvious short-term solution - the bridge until the day when we have affordable renewable energy - of nuclear power.

Charles Krauthammer

The financial crisis of 2008 created a seismic shift in the dynamics of trust in financial services. FinTech would have happened without the global financial crisis - but it would have taken much longer.

Taavet Hinrikus

A more robust approach to global warming is needed if we are to avoid catastrophe. Unlike the recent financial crisis, there is no bailout option for the earth's climate.

Jose Angel Gurria

We have already seen some instances of systemic risk in recent times in the Asian financial crisis. But what sparked off the Asian financial crisis? Automated trading programmes!

Paul Virilio

With the lessons taken from the financial crisis in 1997, the Republic of Korea has been able to surmount the global economic crisis rather successfully.

Lee Myung-bak

That's the problem with the financial sector. Banks and the financial sector live in the short run, not the long run. In principle the government is supposed to make regulations that help the economy over time. But once it's taken over by the financial sector, the government lives in the short run too.

Michael Hudson

There has been a banking crisis, a financial crisis, an economic crisis, a social crisis, a geostrategic crisis and an environmental crisis. That's considerable in a country that's used to being protected.

Jean-Francois Cope

But would the young do any better under the same circumstances? Will they do any better when their turns come? The answer is that youth would not and cannot, given the financial and economic framework within which the elders are operating. While the moral convictions of individuals are important in the long run, it is institutions that determine the immediate course of events - particularly the institutions of finance.

Louis O. Kelso

So another challenge for our generation is to create global institutions that reflect our ideas of fairness and responsibility, not the ideas that were the basis of the last stage of financial development over these recent years.

Gordon Brown

Just as the financial crisis has created toxic assets and 'zombie' financial institutions, so has it transformed conservatism into a movement of the living dead.

Thomas Frank

The financial time frame always has been short-term. Projects with long-term paybacks are cut back, because CEOs and financial managers simply want to take their money and run. That is the financial mentality.

Michael Hudson

If there had been a Financial Product Safety Commission in place 10 years ago, the current financial crisis would have been averted.