A Quote by John Delaney
We have been dealt a very weak hand by the financial market meltdown, bailouts, and recession. We can't act like it's a strong one.
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So, for example, a country was into recession right after I was sworn in, a dot-com bust had taken place. Then the attacks of September the 11th, and then of course the great financial meltdown in the - the fundamental question facing any presidency is how do you deal with the hand you’re dealt?
So, for example, a country was into recession right after I was sworn in, a dot-com bust had taken place. Then the attacks of September the 11th, and then of course the great financial meltdown in the -the fundamental question facing any presidency is how do you deal with the hand you're dealt?
There was no blueprint or how-to manual for fixing a global financial meltdown, an auto crisis, two wars and a great recession, all at the same time.
The thing that impressed me then as now about New York… was the sharp, and at the same time immense, contrast it showed between the dull and the shrewd, the strong and the weak, the rich and the poor, the wise and the ignorant… the strong, or those who ultimately dominated, were so very strong, and the weak so very, very weak - and so very, very many.
If investors avoid the Treasury market, we could be unable to pay off maturing securities, which would mean an immediate default. Market participants generally agree that even a brief default would create potentially catastrophic risks to the financial system, like the meltdown of 2008.
A strong nation, like a strong person, can afford to be gentle, firm, thoughtful, and restrained. It can afford to extend a helping hand to others. It's a weak nation, like a weak person, that must behave with bluster and boasting and rashness and other signs of insecurity.
At the center of every recession is a serious imbalance in the economy and mirrored in the financial system. Think subprime mortgage and the Great Recession, or the technology bubble and the early 2000s recession. There are no such imbalances today.
There are times when a market such as housing, transportation or the stock or mortgage market keep rising and people with capital want to join in this growth. Soon the markets become overheated, partly because of the abundance of investment money and speculation. This is when the government should raise interest rates and increase the cost of borrowed money. Governments are shy about doing this because it could cause the very recession. Yet this is the best time to do this so that the inevitable recession never reaches the magnitude of the recent Great Recession.
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.
During the financial crisis and bailouts of 2008, it probably occurred to very few average people that we were entering a period of hardship for billionaires.
Europe is a strong market for the U.S. If it has problems, if there's a lack of consumer confidence, if there's a deeper recession, this will deeply affect jobs in the U.S.
Every Christian community must realize that not only do the weak need the strong, but also that the strong cannot exist without the weak. The elimination of the weak is the death of fellowship.
But when the strong were too weak to hurt the weak, the weak had to be strong enough to leave.
Since 2001, people have been scared. There's been some really scary stuff that's been happening - 9/11, Iraq, Afghanistan, Katrina, anthrax letters, D.C. sniper, global warming, global financial meltdown, bird flu, swine flu, SARS. I think people really feel like the system's breaking down.
Financial markets are supposed to swing like a pendulum: They may fluctuate wildly in response to exogenous shocks, but eventually they are supposed to come to rest at an equilibrium point and that point is supposed to be the same irrespective of the interim fluctuations. Instead, as I told Congress, financial markets behaved more like a wrecking ball, swinging from country to country and knocking over the weaker ones. It is difficult to escape the conclusion that the international financial system itself constituted the main ingredient in the meltdown process.
Compassion is for the very strong. Compassion does not come to the weak. People who are unkind, bullies, use rude language, are not strong people. They are very weak people.
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