A Quote by George Papandreou

Countries are not like financial markets. Social change cannot be executed as swiftly as credit-default swaps. You cannot sell short on social commitments and practical responsibilities.

George Papandreou

Quote Topics

Cannot Change Commitments Countries Credit Default Executed Financial Financial Markets Like Markets Practical Responsibilities Sell Short Social Social Change Swiftly

Quote Author

George Papandreou
Greek - Statesman
Born: June 16, 1952

I was able to use credit default swaps to protect not only my investments but the hundreds of jobs that exist because of my investment. I understand the dangers of credit default swaps and the benefits of credit default swaps.

Jeff Greene

I think the credit default swaps can take the place of the rating agencies who really have missed the ball in this procedure and are quite conflicted by the way the ratings are paid for. So, I would like to see credit default swaps become an evermore important way of understanding credit risk in the economy.

Robert F. Engle

Credit default swap gives you something to do. You can buy some credit default swaps from them to protect yourself against the bankruptcy of people who owe you money.

Robert F. Engle

Credit-default swaps remedied the problem of open-ended risk for me. If I bought a credit-default swap, my downside was defined and certain, and the upside was many multiples of it.

Michael Burry

Main Street investors, who cannot trade credit default swaps, should not be tempted to trade an instrument with the same risk profile simply because it has been given a different name.

Daniel L. Doctoroff

As the financial experts all over the world use machines to unwind Gordian knots of financial arrangements so complex that only machines can make - 'derive' - and trade them, we have to wonder: Are we living in a bad sci-fi movie? Is the Matrix made of credit default swaps?

Richard Dooling

We cannot change the political system, we cannot change the economic system, we cannot change the social system, until the people control the land, and then we take it out of the hands of that sick minority that chooses to pervert the meaning and the intention of humanity.

John Trudell

Once social change begins, it cannot be reversed. You cannot un-educate the person who has learned to read. You cannot humiliate the person who feels pride. You cannot oppress the people who are not afraid anymore. Cesar Chavez Address to the Commonwealth Club in San Francisco, Nov. 9, 1984

Cesar Chavez

I mean, we've always had gold bugs, but now we sort of realize that Treasure Bills might be in the same category. And we have derivatives like credit default swaps which are in this category, and we have derivatives like volatilities that are actually an asset class that we can invest in which are now - would out perform if we have another financial crisis.

Robert F. Engle

The full consequences of a default or even the serious prospect of default by the United States are impossible to predict and awesome to contemplate. Denigration of the full faith and credit of the United States would have substantial effects on the domestic financial markets and on the value of the dollar in exchange markets. The Nation can ill afford to allow such a result. The risks, the cost, the disruptions, and the incalculable damage lead me to but one conclusion: the Senate must pass this legislation before the Congress adjourns.

Ronald Reagan

If we don't like rent control, we ought to oppose it on political and social grounds - and not just by arguing that, thanks to smartphones and social networks, we can create new, more efficient markets for matching short-term renters with tenants.

Evgeny Morozov

Credit-default swaps, I think, have serious problems associated with them.

Alan Greenspan

Of course most Americans don't know how A.I.G. brought the world's financial system to near-ruin or what credit-default swaps are. They may not even know what A.I.G. stands for. But Americans do make the connection between their fears about their own jobs and their broad understanding of the A.I.G. debacle.

Frank Rich

So what is the role that credit default swaps can play in an economy? Well my feeling is that if these things actually will now be traded on either exchanges or some kind of central clearing, they are going to be a very good measure of the credit worthiness of different companies.

Robert F. Engle

I do believe CDSs [credit default swaps] have been miscast, much as poor workmen tend to blame their tools.