A Quote by Dick Morris
The financial interdependence of the world's banks is like the interlocking alliances that predated World War I.
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I have to say that if our global alliances are going to be alliances with Hezbollah and Hamas and Hugo Chavez's Venezuela and Vladimir Putin's Russia, there is absolutely no chance of building a world-wide alliance that can deal with poverty and inequality and climate change and financial instability, and we've got to face up to that fact.
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.
The powers of financial capitalism had a far-reaching aim, nothing less than to create a world system of financial control in private hands able to dominate the political system of each country and the economy of the world as a whole. This system was to be controlled in a feudalist fashion by the central banks of the world acting in concert, by secret agreements arrived at in frequent meetings and conferences.
In a world of businessmen and financial intermediaries who aggressively seek profit, innovators will always outpace regulators; the authorities cannot prevent changes in the structure of portfolios from occurring. What they can do is keep the asset-equity ratio of banks within bounds by setting equity-absorption ratios for various types of assets. If the authorities constrain banks and are aware of the activities of fringe banks and other financial institutions, they are in a better position to attenuate the disruptive expansionary tendencies of our economy.
The financial system has to be regulated, we have to end with the tax havens, and it's necessary that the central banks in the world should control a little bit the banks' financing because they cannot bypass a certain range of leverage.
Financial institutions have been merging into a smaller number of very large banks. Almost all banks are interrelated. So the financial ecology is swelling into gigantic, incestuous, bureaucratic banks-when one fails, they all fall. We have moved from a diversified ecology of small banks, with varied lending policies, to a more homogeneous framework of firms that all resemble one another. True, we now have fewer failures, but when they occur... I shiver at the thought.
One began to hear it said that World War I was the chemists' war, World War II was the physicists' war, World War III (may it never come) will be the mathematicians' war.
In most vital organizations, there is a common bond of interdependence, mutual interest, interlocking contributions, and simple joy.
World War Two was a world war in space. It spread from Europe to Japan, to the Soviet Union, etc. World War Two was quite different from World War One which was geographically limited to Europe. But in the case of the Gulf War, we are dealing with a war which is extremely local in space, but global in time, since it is the first 'live' war.
If you go to Wikipedia and you look at the Tour de France, there's this huge block in World War One with no winners, and there's another block in World War Two. And then it seems like there's another world war.
What we have seen in financial markets should bring home to us all that the central organising principle of this 21st century is interdependence. For the century just past, interdependence may have been one option among many. For the century that is to come, there is no longer an alternative.
This is the first global crisis that doesn't start in poor countries and it was caused by the rich countries. So it's necessary to take advantage of this crisis - the financial system has to be regulated. It's necessary that the central banks in the world should control a little bit the banks' financing, because they cannot bypass a certain range of leverage. And I believe that there's no other - more any reason for a G-8 group or any other "G." I believe that we should guarantee that the G-20 should be now an important forum to discuss the major economic issues of the world.
Because the US has control of the sea. Because the US has built up its wealth. Because the US is the only country in the world really not to have a war fought on its territory since the time of the Civil War ... Therefore we can afford mistakes that would kill other countries. And therefore we can take risks that they can't ... the core answer to why the United States is like this is we didn't fight World War I and World War II and the Cold War here.
in today's world no country can be absolutely independent of another. It is a world of interdependence.
The World War I, I'm a child of World War I. And I really know about the children of war. Because both my parents were both badly damaged by the war. My father, physically, and both mentally and emotionally. So, I know exactly what it's like to be brought up in an atmosphere of a continual harping on the war.
This is a war between good and evil. And we have made it clear to the world that we will stand strong on the side of good, and we expect other nations to join us. This is not a war between our world and their world. It is a war to save the world.
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