A Quote by Michael Hudson

That's the problem with the financial sector. Banks and the financial sector live in the short run, not the long run. In principle the government is supposed to make regulations that help the economy over time. But once it's taken over by the financial sector, the government lives in the short run too.

Michael Hudson

Quote Topics

Banks Economy Financial Government Help Live Lives Long Long Run Make Once Over Principle Problem Regulations Run Sector Short Supposed Taken The Problem With Time Too

Quote Author

Michael Hudson
American - Professor
Born: 1939

We are all used to paying a sales tax when we buy things - almost 9 percent here in New York City. The application of this concept to the financial sector could solve our need for revenue, bring some sanity back into the financial sector, and give us a way to raise the revenue we need to run the government in a fiscally responsible way.

Eliot Spitzer

The financial sector has so distorted salaries that physicists are getting drawn into the financial sector. All that has led to an undersupply of people committed to the public sector.

Joseph Stiglitz

The financial sector is vital to the economy. A well-functioning financial sector promotes job creation, innovation, and inclusive economic growth.

Janet Yellen

The Harper Government is committed to ensuring that seniors have the skills they need to make solid financial choices. Seniors today face an increasingly complex financial marketplace, and it will take the combined efforts of public and private sector organizations to help seniors navigate the many financial choices they face. The start of Financial Literacy Month is an excellent opportunity to thank the Canadian Bankers Association and encourage other private sector organizations to take an active role in providing financial literacy support to Canada's seniors.

Kevin Sorenson

The government doesn't run the economy. The economy is run by the private sector. The job of the president is to ensure we [the state] have policies that allow the private sector to grow and prosper.

Marco Rubio

The financial time frame always has been short-term. Projects with long-term paybacks are cut back, because CEOs and financial managers simply want to take their money and run. That is the financial mentality.

Michael Hudson

The Russians are clearly already engaged in a proxy war against the government of Ukraine. And that is something that we and the rest of the world have actively condemned and sanctioned Russia already heavily for, particularly the United States, as we have imposed now meaningful, tough sanctions in critical sectors, including the defense sector, the financial sector, and the energy sector.

Susan Rice

The Fed contributed to the financial crisis, keeping interest rates too low for too long. I give them credit for responding and stabilizing the economy and the financial sector during the crisis. But then they tried to do too much with quantitative easing that went on forever, just dramatically exploding their balance sheets.

Kevin Brady

When large companies take on risk, then they impose risks on the rest of the system. And these are systemic risks and these systemic risks we never used to think were really that important, but as soon as we recognize how the financial sector - the risks the financial sector takes on can impact the entire global economy, we realize that those risks needed to be controlled for the social good.

Robert F. Engle

In World War II, the government went to the private sector. The government asked the private sector for help in doing things that the government could not do. The private sector complied. That is what I am suggesting.

Carly Fiorina

China will continue to adopt multiple measures to advance the reform and opening up of its financial sector so that its financial market can better adapt to financial modernization and globalization.

Xi Jinping

People need the financial sector to be safe; people also need the financial sector to go through a massive phase of innovation. That means delivering on the positive rhetoric, like around settlement accounts, not allowing Open Banking to be diluted, and leading the way on AML.

Taavet Hinrikus

The global financial system consists of firms in the financial services sector - banks, hedge funds, insurance companies and the like - and various governmental agencies who are charged with regulating these firms.

John L. Casti

It is a law of nature that everything run by the government will get more expensive and worse over time. Everything run by the private sector will get better and cheaper over time. The fact that [Obamacare] starts this badly does not bode well....We want healthcare run on the same system that gave us cell phones, flat screens, Jerry Garcia chia pets. Everything you submit to the free market...keeps getting better and better.

Ann Coulter

In the past we entrusted money to the government sector and the government sector simply did not spend the money wisely. And that is why we need reforms, but the government sector is not being reformed.