A Quote by Henry Kaufman
I do sense that the financial system is under the gun. In order to keep our system and economies moving globally, there's the need to extend new money.
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The Libor system is structurally flawed. It is a major problem for our financial system and for the confidence in the financial system. We need to address it.
When our financial system - essentially our money managers, marketers of investment products and stockbrokers - put up zero percent of the capital and assume zero percent of the risk yet receive fully 80% of the return, something has gone terribly wrong in our financial system.
Since with electricity we extend our central nervous system globally, instantly interrelating every human experience.
If you don't have a functioning financial system the world economy won't be revived. All the major economies have their responsibility to assist at a pace which is required to clean up the balance sheet of the banking system and to ensure that credit flows are resumed.
What built America's called the American system, from Hamilton to Polk to Henry Clay to Lincoln to the Roosevelts. A system of protection of our manufacturing, financial system that lends to manufacturers, OK, and the control of our borders.
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.
We had a mission at PayPal - which was to create a new financial system, a new world currency, and we failed. We were a financial success, but we didn't succeed at the purpose of our company.
The financial system has been turned over to the Federal Reserve Board. That Board administers the finance system by authority of a purely profiteering group. The system is Private, conducted for the sole purpose of obtaining the greatest possible profits from the use of other people's money.
Making improvements to our background check system and cracking down on illegal gun trafficking are common-sense ways to prevent violence without punishing law abiding gun owners. We owe it to the American people to take real action to reduce gun violence in our communities.
For market discipline to constrain risk effectively, financial institutions must be allowed to fail. Under optimal financial regulatory and financial system infrastructures, such a failure would not threaten the overall system.
We need a new tax system. We need entitlement reform. We need immigration reform. These are not easy things. But it is going to take our political system working better.
Our educational system globally has not been historically great in reskilling for newer job roles. We need a new social contract to do that. For India, lack of an incumbent structure might be an advantage, where it can use digital education to leapfrog.
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.
But our system of regulation must keep up with this. If it fails to keep up, it will hold back economic expansion. We need financial market regulation that works at national and European level.
Growing economies are critical; we will never be able to end poverty unless economies are growing. We also need to find ways of growing economies so that the growth creates good jobs, especially for young people, especially for women, especially for the poorest who have been excluded from the economic system.
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