A Quote by Matt Taibbi

'Nobody goes to jail.' This is the mantra of the financial-crisis era, one that saw virtually every major bank and financial company on Wall Street embroiled in obscene criminal scandals that impoverished millions and collectively destroyed hundreds of billions, in fact, trillions of dollars of the world's wealth - and nobody went to jail.

Matt Taibbi

Quote Topics

Bank Billions Collectively Company Crisis Destroyed Dollars Era Every Fact Financial Goes Hundreds In Fact Jail Major Mantra Millions Nobody Obscene Saw Scandals Street Virtually Wall Wall Street Wealth World

Quote Author

Matt Taibbi
American - Author
Born: March 2, 1970

Forgive me, I must start by pointing out that three years after our horrific financial crisis caused by financial fraud, not a single financial executive has gone to jail, and that's wrong.

Charles Ferguson

The whole financial structure of Wall Street seems to rise or fall on the mere fact that the Federal Reserve Bank raises or lowers the amount of interest. Any business that can't survive a one percent change must be skating on thin ice. Why even the poor farmer took a raise of another ten percent just to get a loan from the bank, and nobody from the government paid any attention. But you let Wall Street have a nightmare and the whole country has to help to get them back into bed again.

Will Rogers

Robert M. Morgenthau, the Manhattan district attorney, has seen a few financial schemes in his time. As the lead local prosecutor in the world's financial capital, he has battled frauds like the Bank of Credit and Commerce International, which stole billions of dollars from investors worldwide.

Alex Berenson

Once Wall Street starts putting money into Bitcoin - we're talking about hundreds of millions, billions of dollars moving in - it's going to have a pretty dramatic effect on the price.

Barry Silbert

The greatest business icons-it's not that they were worth hundreds of millions, or billions or trillions of dollars, it's that they moved society forward.

Donny Deutsch

Trillions of dollars every day are being exchanged around the world in all of the financial markets.

Kenneth Lay

The model used by Wall Street to price trillions of dollar's worth of derivatives thought of the financial world as an orderly, continuous process. But the world was not continuous; it changed discontinuously, and often by accident.

Michael Lewis

Wall Street can never be allowed to threaten main street again. No bank can be too big to fail, no executive too powerful to jail.

Hillary Clinton

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.

Thomas Sowell

If CEO compensation was performance-driven, which I believe it was in IBM's case, nobody would ever argue. If the shareholders didn't make billions and billions of dollars, I wouldn't make millions of dollars. My salary was the same for 10 years. It was all performance-based.

Louis V. Gerstner, Jr.

Created by Congress as part of the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010, the CFPB was a direct response to the financial crisis and ensuing Great Recession that began with the subprime mortgage debacle and the unraveling of Lehman Brothers investment bank.

Joe Sestak

Even if every major government were to slap huge taxes on carbon fuels - which is not going to happen - it wouldn't do much to halt climate change any time soon. What it would do is cost us hundreds of billions - if not trillions - of dollars, because alternative energy technologies are not yet ready to take up the slack.

Bjorn Lomborg

Transnational organized cybercriminal groups have stolen hundreds of millions of dollars from financial institutions and ordinary citizens.

Dmitri Alperovitch

The problem with the focus on speculators, as was demonstrated during the financial crisis, is that it tends to divert attention from the real villains. During the financial crisis, the villains were the actions of the banks, not the speculators betting on bank share prices.

Gary Weiss

You can look at that by comparing Medicare's growth rates to the private insurance world, to the other Federal programs that we run, by looking at the billions of dollars, not millions but billions of dollars, we waste every year.

Bobby Jindal

Food Stamp recipients didn't cause the financial crisis; recklessness on Wall Street did.

Barack Obama

A Quote by Matt Taibbi

Quote Topics

Quote Author

Related Quotes

Related Authors