A Quote by Mary Schapiro
Every morning when I pick up the newspaper and read about an earthquake in Japan or problems in European financial institutions, the first question I ask our staff is 'What is money-market-fund exposure?'
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OUR INSPIRATION: Billy Graham, July 2, 1962 “World events are moving very rapidly now. I pick up the Bible in one hand, and I pick up the newspaper in the other. And I read almost the same words in the newspaper as I read in the Bible. It’s being fulfilled every day round about us.
The Europeans governments have massively changed the landscape in Europe. There is no doubt about it. They have put together the European Financial Stability Fund. They have discussed and approved the European Stability Mechanism.
I'm having fun, and I'm waking up every morning and my staff is waking up every morning looking at each other and saying, 'What can we do today that would be really cool?' I cannot complain about my life.
When the banks grow to or when these financial institutions grow to such a size that they can't sustain themselves, or what have you, they have problems, economic problems, or financial problems, they shouldn't be able to look back to you and I, the taxpayer, to be bailed out.
Financial institutions are not being bailed out as a favor to them or their stockholders. In fact, stockholders have come out worse off after some bailouts. The real point is to avoid a major contraction of credit that could cause major downturns in output and employment, ruining millions of people, far beyond the financial institutions involved. If it was just a question of the financial institutions themselves, they could be left to sink or swim. But it is not.
Strangely, meanness pays more than offering constructive and interesting commentary. Every season I think, "This is the last season. I'm not gonna read tomorrow morning. Forget it." The first thing when I wake up - quite late, usually - I am craving the newspaper.
You should never pick up a newspaper when you're feeling good, because every newspaper has a special department, called the Bummer Desk, which is responsible for digging up depressing front-page stories.
Men love to be the first to read the newspaper in the morning. Not being the first is upsetting to their psyches.
To restore confidence in our markets and our financial institutions so they can fuel continued growth and prosperity, we must address the underlying problem. The federal government must implement a program to remove these illiquid assets that are weighing down our financial institutions and threatening our economy.
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.
[People] have seen the credit market seize up. They're worried about money market funds, although the latest proposition from government should take care of that. They've seen eight percent of the bank deposits in the United States get moved very skillfully, I might say, within the last couple of weeks from institutions that they thought were fine a few months ago to other institutions. They are not wrong to be worried.
To get our economy back on track and keep it functioning properly without the problems of our financial institutions, we need reasonable regulations that will protect Main Street while at the same time allow Wall Street to do what it does best - make money for American investors.
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.
An index fund is a fund that simply invests in all of the stocks in a market. So, for example, an index fund might invest in every single stock or almost every single stock in the U.S. market, it might invest in every single stock abroad, or it might invest in all of the bonds that are out there. And you can make a perfectly fine investing portfolio that mixes equal parts of all three of those.
I wanna read a good paper first thing in the morning. And if I see a lie about myself flash across the front of the cover, I don't think much of the rest of the newspaper.
As far as I'm concerned, any Aboriginal that gets out there and accepts money that has been put out as a package for this bicentenary is actually accepting blood money. We've still got people with leprosy and we still got tremendous problems. These problems have not been our problems, they're the problems of the European population of Australia.
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