A Quote by Mitt Romney

The TARP program was nevertheless necessary to keep banks from collapsing in a cascade of failures.

Mitt Romney

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Banks Cascade Collapsing Failures Keep Necessary Nevertheless Program Tarp

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Mitt Romney
American - Politician
Born: March 12, 1947

I passionately disagreed with Treasury Secretary Hank Paulson's plan to bail out the banks by using a public fund called the Troubled Asset Relief Program (TARP) to help banks take toxic assets off their balance sheets. I argued that it would be much better to put the money where the hole was and replenish the equity of the banks themselves.

George Soros

The goal of the FED, as with all central banks, is three-fold: (1) to protect the largest commercial banks from their depositors, who occasionally exercise their contractual right to withdraw currency (the ungrateful cads); (2) to control entry of newcomers into the bankers' cartel (interlopers); (3) to keep the stock market from collapsing in a panic, thereby persuading depositors to withdraw currency

Gary North

On the 27th we came to the Cascade Rapids. The first or Little Cascade has about two feet fall, the second or Grand Cascade, a mile farther, is about a six foot sheer drop.

Ernest Thompson Seton

Separating out banks and investment banks right now under Glass-Steagall would have very big implications to the liquidity and the capital markets and banks being able to perform necessary lending.

Steve Mnuchin

Financial institutions have been merging into a smaller number of very large banks. Almost all banks are interrelated. So the financial ecology is swelling into gigantic, incestuous, bureaucratic banks-when one fails, they all fall. We have moved from a diversified ecology of small banks, with varied lending policies, to a more homogeneous framework of firms that all resemble one another. True, we now have fewer failures, but when they occur... I shiver at the thought.

Nassim Nicholas Taleb

Let's not forget, what TARP did allowed us to move overnight and put capital into hundreds of banks, and that money came back plus $32 billion.

Henry Paulson

I personally believe that Donald Trump being elected president is a national emergency and a crisis that stems from a great cascade of failures.

Jon Lovett

I suggested a compromise to give the banks a year's time and see if they succeed in showing us that nationalization wasn't necessary. The year went by and we realized it hadn't done any good, that the money still ended up in the hands of the rich industrialists or friends of the bankers. So I concluded that it was necessary to nationalize the banks. And we did. Without considering it a socialist gesture or an antisocialist gesture, just a necessary one. Anyone who nationalizes only so as to be considered on the left to me is a fool.

Indira Gandhi

The government wants to control the banks, just as it now controls GM and Chrysler, and will surely control the health industry in the not-too-distant future. Keeping them TARP-stuffed is the key to control.

Stuart Varney

The financial system has to be regulated, we have to end with the tax havens, and it's necessary that the central banks in the world should control a little bit the banks' financing because they cannot bypass a certain range of leverage.

Luiz Inacio Lula da Silva

The Central Bank should have a permanent window for discounting high quality securities where banks could go and discount these. It gives peace of mind to the banks. In the absence of this facility, what banks tend to do is to keep a liquidity cushion for emergency requirements. This is a very expensive way of managing liquidity.

Abdul Aziz Al Ghurair

Operational risk is the risk of loss resulting from bank operational failures, such as rogue traders, fraudulent sales practices, and cyber risks. Operational risk capital is money or assets that banks have to hold to shield the economy from the consequences of these kinds of failures.

Seth Moulton

TARP is funded by taxpayers, so there are many rules about how that money can and can't be used. The result: GM spends an awful lot of time checking in with the people who administer TARP over everything from hiring to executive compensation and management. For a global company, that adds up to a lot of distraction.

Edward Whitacre, Jr.

I like banks because they keep my money safe, but I don't want to talk about banks 12 times a year.

Carol Bartz

If you can keep on trying after three failures in a given undertaking you may consider yourself a 'suspect' as a potential leader in your chosen occupation. If you can keep on trying after a dozen failures the seed of a genius is germinating within your soul.

Napoleon Hill

Not every company went bankrupt. Not every bank needed TARP [Troubled Asset Relief Program]. So I'm very proud that JPMorgan, throughout that time period, was completely steadfast. We bought Bear Stearns because we thought we were helping the situation. We didn't cut and run.

Jamie Dimon

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