A Quote by Lloyd Blankfein
We certainly had an upheaval at the start of the Great Depression, and that resulted in a lot of financial reform, but it wasn't done in one stroke, and it wasn't done immediately. The Depression was in 1929 and resulted in the Securities and Exchange Act of '33, '34, '35, '37, '39, and '41.
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If you had asked people in 1929, 'Here is what is about to happen. How much would you pay to avoid the Great Depression from occurring?' The answer is they would have paid a lot. They would have borrowed money if it could be used to prevent the Great Depression.
Ever since the Great Depression, economists have known that demand shortages tend to persist in the wake of severe financial crises like the ones that happened in 1929 and 2008.
Importantly, in the 1930s, in the Great Depression, the Federal Reserve, despite its mandate, was quite passive and, as a result, financial crisis became very severe, lasted essentially from 1929 to 1933.
It is always man's ideas which drive his actions. This has, at times, resulted in great evil; but as we look around us, we cannot doubt that it has resulted in greater good.
If you look at what happened, I came in the middle of the worst financial crisis since the Great Depression. And unlike Franklin Delano Roosevelt who waited, well, didn't take office until about three years into the Great Depression, it was happening just as I was elected.
The stock market crashed in October 1929. But that was not the cause of what caused the Great Depression. It was, in my opinion, a very minor element of it. What happened was that from 1929 to 1933 you had a major contraction which, in my opinion, was caused primarily by the failure of the Federal Reserve System, to follow the course of action for which it was set up. It was set up to prevent exactly what happened from 1929 to 1933. But instead of preventing it, they facilitated it.
We had a booming stock market in 1929 and then went into the world's greatest depression. We have a booming stock market in 1999. Will the bubble somehow burst, and then we enter depression? Well, some things are not different.
So I analyzed that and decided I didn't want to be the president during a depression greater than the Great Depression, or the beginning of a depression greater than the Great Depression.
The little depression I experienced during my manic-depression was not like depression as anyone else had ever described it. It was very violent and angry, and I was full of rage. I wasn't lying in bed.
Inventing sources is not a crime in and of itself, although it certainly violates every code of journalistic ethics known to man. A criminal fraud case would require that the reporter's deceit had been malicious and resulted in financial gain.
The little depression I experienced during my manic-depression was not like depression as anyone else had ever described it. It was very violent and angry, and I was full of rage. I wasnt lying in bed.
It is worth noting that virtually every alternative energy source we have - solar, wind, nuclear, and battery and fuel cell technologies for storage - resulted from public innovation and R&D, not private. The problem is that we haven't done enough of it, and we have done it inconsistently.
Manic depression is a type of depression, technically, and it's the opposite of uni-polar. Manic depression is also called bi-polar disorder. Some people don't like to call it that because they think it makes it sound too nice, when the reality is if you have manic-depression you have manic-depression.
We don't have a great war in our generation, or a great depression, but we do, we have a great war of the spirit. We have a great revolution against the culture. The great depression is our lives. We have a spiritual depression.
Depression has been called the world's number one public health problem. In fact, depression is so widespread it is considered the common cold of psychiatric disturbances. But there is a grim difference between depression and a cold. Depression can kill you.
Depression has been called the worlds number one public health problem. In fact, depression is so widespread it is considered the common cold of psychiatric disturbances. But there is a grim difference between depression and a cold. Depression can kill you.
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