A Quote by Ben Bernanke
Well, the U.S., of course, is the world's largest economy. It's about a quarter of the world's output. It's also home to many of the largest financial institutions and financial markets.
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The efficiency, credibility, and liquidity of the financial markets have been foundational to the largest economy in the world.
Apparently modern financial regulators are vastly more sophisticated than we were as financial regulators 25 years ago - because we had never figured out that the key to financial stability was leaving felons in charge of the largest financial institutions in the world.
North Carolina is home to some of the largest financial institutions in the country, and a vibrant network of community banks. We're a banking state, and we're proud of that distinction. But we also understand that responsible financial regulation protects consumers and businesses.
The subprime disaster was a result of financial bombs - derivatives - exploding in financial institutions such as AIG and Lehman Brothers, as well as banks and financial institutions throughout the world.
Accountability for the largest financial institutions on Wall Street is the bedrock for a strong economy. Hard-working families and honest businesses cannot survive in a world where the rules don’t keep the marketplace honest.
Although not well known outside Wall Street, Freddie Mac and its corporate cousin, Fannie Mae, are two of the world's largest financial institutions and play a crucial role in the housing market.
By any measure, CapitalSource outperformed both our direct competitors and the financial services industry in general, particularly in the context of the near collapse of the financial services industry where 19 of the 20 largest financial institutions in the country either failed or were bailed out by the government.
The tallest building in the world is now in Dubai, the biggest factory in the world is in China, the largest oil refinery is in India, the largest investment fund in the world is in Abu Dhabi, the largest Ferris wheel in the world is in Singapore.
The use of a growing array of derivatives and the related application of more-sophisticated approaches to measuring and managing risk are key factors underpinning the greater resilience of our largest financial institutions... Derivatives have permitted the unbundling of financial risks.
To restore confidence in our markets and our financial institutions so they can fuel continued growth and prosperity, we must address the underlying problem. The federal government must implement a program to remove these illiquid assets that are weighing down our financial institutions and threatening our economy.
Some of the largest financial institutions can build a profit model on tricking people.
We should not chip away at the protections that have built the largest economy and the largest middle class in the world.
The money economy thus leaves a large ecological footprint, defined as the amount of land and resources required to meet a typical consumer's needs. For example, with only about 4% of the world's population, the United States, the largest money economy, consumes in excess of one-quarter of the world's energy and materials and generates in excess of 25 percent of the world's greenhouse gas emissions.
Now, as the world's largest economy and as the world's second largest emitter, America bears our responsibility to address climate change, and we intend to meet that responsibility.
The financial markets tend to be just a backdrop for a novel, for a heist or something that isn't necessarily integral to it. On the whole, I don't think the financial world has been well served by novels.
Financial institutions are not being bailed out as a favor to them or their stockholders. In fact, stockholders have come out worse off after some bailouts. The real point is to avoid a major contraction of credit that could cause major downturns in output and employment, ruining millions of people, far beyond the financial institutions involved. If it was just a question of the financial institutions themselves, they could be left to sink or swim. But it is not.
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