A Quote by Balaji Srinivasan

There are downsides to implicitly trusting banks, as the 2008 financial crisis showed.

Balaji Srinivasan

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Banks Crisis Financial Financial Crisis Trusting

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Balaji Srinivasan
American - Businessman

I bet taxpayers remember providing more than $812 billion to Citigroup and Bank of America, two Wall Street banks, in 2009 to bail them out during the 2008 financial crisis. Taxpayers remember that generosity; big banks evidently don't.

John Kennedy

My old firm, Goldman Sachs - traditionally, the best banks are leveraged 8:1. When we had the financial crisis in 2008, the investment banks were leveraged 35:1. Those rules had specifically been changed by a guy named Hank Paulson. He was secretary of Treasury.

Steve Bannon

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

The financial crisis of 2008 was not caused by investment banks betting against the housing market in 2007. It was caused by the fact that too few investors - including all of the big investment banks - bet too heavily on the housing market in the years before 2007.

James Surowiecki

The heart of the 2008 financial crisis was a coterie of reckless financial executives, working for too-big-to-fail financial companies, who were handsomely compensated for taking risks that almost ruined the economy when they failed.

Gary Weiss

Starting in the wake of the 2008 GFC (Global Financial Crisis), market observers have warned of a crash in the bond market. Initially, it was believed that the trillions printed to bail out the banks would cause inflation and, therefore, a flight from bonds.

Max Keiser

The problem with the focus on speculators, as was demonstrated during the financial crisis, is that it tends to divert attention from the real villains. During the financial crisis, the villains were the actions of the banks, not the speculators betting on bank share prices.

Gary Weiss

Here's Hillary Clinton getting away with tying the Republicans to rich people. She's tying the Republican Party to Wall Street, to the big banks. She's tying the Republican Party to the financial crisis in 2008. It's all their fault. She's tying herself as with the low-income crowd - and the average, ordinary middle class American - as their champion, as their defender. They don't know that it's not the Republicans in bed with banks. They don't know that it's the banks that are practically paying for and underwriting the Democrat Party and Hillary Clinton today.

Rush Limbaugh

For the last several decades, there was a prevailing belief among traditional economists that the markets were rational and self-correcting. Alan Greenspan advocated this view. But the 2008 financial crisis showed that this view is incorrect, and Greenspan eventually admitted as much.

Kabir Sehgal

The Death of Money is an engrossing account of the massive stresses accumulating in the global financial system, especially since the 2008 financial crisis. Jim Rickards is a natural teacher. Any serious student of financial crises and their root causes needs to read this book.

John H. Makin

You can't look back at the worst financial crisis of our lifetimes that started in 2008 and not have some important lessons about the critical nature of oversights in financial markets and institutions.

Austan Goolsbee

In response to the drop in wealth suffered as a consequence of the 2008 financial crisis, homeowners and firms did attempt to increase savings in financial assets by reducing expenditure on durables.

Dale T. Mortensen

Soon after the financial crisis of 2008, I was at a meeting in Washington with a group of U.S. senators. They had invited me to provide a point of view on new regulation; regulation aimed at ensuring we never have to go through the events of 2008 ever again.

Bob Diamond

The Fed has a lot of power in the economy because it has a big impact on the supply and cost of credit, that is, interest rates. It also plays a key role in supervising banks and historically has seemed to take it easy on the banks when it shouldn't have, such as in the lead up to the financial crisis.

Gerald Epstein

I believe that the financial crisis of 2008/9 exposed more a lack of ethics and morality - especially by the financial sector - rather than a problem of regulation or criminality. There were, of course, regulatory lessons to be learned, but at heart, there was a collective loss of our moral compass.

Paul Polman

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

A Quote by Balaji Srinivasan

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