A Quote by Barack Obama
The banks, because of mismanagement, because of huge risk taking, are now in very vulnerable positions. We can expect that we're gonna have to do more to shore up the financial system. We also are gonna have to make sure that we set up financial regulations so that not only does this never happen again, but you start having some sort of - trust in how the credit markets work again.
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It's just very hard to teach a class of students about what has happened in the Global Financial Crisis, how we ended up there and how we got to where we are today, without having some basic, non-trivial understanding of the financial sector, credit, and the banking system.
Okay. I'll deal with Benjamin. You're safe, okay? Nothing's gonna happen." His mouth pulled tight against itself. And now I was having some sort of heart attack. Because when he looked at me like that, my chest started to feel like it was turned inside out. "Promise." And that—the promise, the way he said it with utter certainty—was enough to make me tear up again.
Do not trust financial market risk models. Despite the predilection of some analysts to model the financial markets using sophisticated mathematics, the markets are governed by behavioral science, not physical science.
In the financial system we have today, with less risk concentrated in banks, the probability of systemic financial crises may be lower than in traditional bank-centered financial systems
In the financial system we have today, with less risk concentrated in banks, the probability of systemic financial crises may be lower than in traditional bank-centered financial systems.
I had very deep concerns about my financial status because I found that up until "Let's Dance" I was virtually broke again. I had been so irresponsible in how I dealt with my financial affairs. I take full responsibility for that.
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.
The current system is organized around financial values over life values. We need to shift that locus of power down to the community level because the financial markets recognize only money and thereby only financial values.
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.
President Obama has a good sense not just of the economic requisites for financial crisis firefighting but also how you build political support for moving forward on reforming the financial system, making sure that the banks are carrying enough capital.
I'm just so grateful for the 10 years that I had in Sri Lanka when it was in the middle of a war and I was getting shot at, because now and again I remember glimpses of those times, and I just go, 'Wow, I'll never, ever see that again in my life. And I'm never gonna feel that, and I'm never gonna feel for a human being like that.'
Now where people are - at least the people I talk to - they are focused on issues of trust. Accountability also comes up, to make sure that this doesn't happen again.
Even if you're an optimist, there's some part of you that just tries to toughen up and be pragmatic and go, 'This isn't gonna happen. This isn't gonna happen.' I really felt that way through the process of 'Korra' because I knew 'Avatar,' and I knew how wonderful it was, and I was so terrified.
Well, as you know, we're working through a difficult period in our financial markets right now, as we work off some of the past excesses. But the American people can remain confident in the soundness and the resilience of our financial system.
It doesn't matter who the candidates are. It doesn't matter the campaign. You know that's gonna happen. The Washington Post is gonna do it, the New York Times is gonna do it, the three networks gonna do it, CNN's gonna do it, MSNBC gonna do it, all the newspapers are gonna do it. For the vast majority of them. There are some exceptions. That sameness ends up being its own authority. If everywhere you look in the media tells you the same thing, you don't have to research.
It's hard for bands to stick it out because people grow up, and it never really pays off. If you're looking for some sort of payoff, it's not gonna happen.
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