A Quote by Muhammad Yunus

The current financial crisis makes it very clears that the system that we have isn't really working, and this is the right time for us to undo things and build them in a new way.

Muhammad Yunus

Quote Topics

Build Clears Crisis Current Financial Financial Crisis Makes New New Way Really Right Right Time System Them Things Time Undo Us Very Way Working

Quote Author

Muhammad Yunus
Bangladeshi - Economist
Born: June 28, 1940

The global financial crisis is a great opportunity to showcase and propagate both causal and moral institutional analysis. The crisis shows major flaws in the way the US financial system is regulated and, more importantly, in our political system, which is essentially a bazaar of legalized bribery where financial institutions can buy themselves the governmental regulations they want, along with the regulators who routinely receive lucrative jobs in the industry whose oversight had formerly been their responsibility, the so-called revolving-door practice.

Thomas Pogge

There are regulators at the SEC and elsewhere who are really excited about the potential of the blockchain. They understand you can build a robust financial system - it would solve all your black swan problems. All kinds of mischief and games that are played in the current system become impossible in this system.

Patrick M. Byrne

By rescuing the financial system without reforming it, Washington has done nothing to protect us from a new crisis, and, in fact, has made another crisis more likely.

Paul Krugman

These public-private partnerships are very, very dangerous. The most rotten part of the financial system in the US consisted of the government sponsored entities, Fannie Mae and Freddie Mac. They really kicked off this crisis. The state should set the rules and enforce them - but not become involved as a market player.

George Soros

Working on "Pieces of April" with Peter Hedges at a young age was really very powerful. It was a different kind of work. We shot that in 10 days and Peter was right there with us, right next to the camera. It was very grounded and I really liked working that way. I liked the way he directed us.

Katie Holmes

President Obama has a good sense not just of the economic requisites for financial crisis firefighting but also how you build political support for moving forward on reforming the financial system, making sure that the banks are carrying enough capital.

Lael Brainard

Maybe [the Republicans] 'll find ways around it, but the financial system of the world depends very heavily on the credibility of the US Treasury Department. US Treasury securities are what's called "good as gold"; they're the basis of international finance, and if the government can't uphold them, if they become valueless, the effect on the international financial system could be quite severe. But in order to destroy a limited health-care law, the right-wing Republicans, the reactionary Republicans, are willing to do that.

Noam Chomsky

I think that's very significant that we're so attached to the idea now of - it was something I advocated for years, that you can make music in studios, music doesn't have to be made as a real-time experience. But now you see the results of that in people who are completely crippled unless they know that they have the possibility of "cut and paste" and "undo." And "undo" and "undo" and "undo" and "undo" and "undo" again.

Brian Eno

Keep in mind that, when I came in, we had had a crisis that was the worst we've seen since the 1930s, and working with people like Chancellor Merkel, working with the G-20 and other institutions internationally, we were able to stabilize the financial system, stabilize the US economy and return to growth.

Barack Obama

The President [Barack Obama], I think if you look at it from his shoes, you know, was facing a very difficult situation where he had to own Washington, tame New York, save a collapsing economy, with a collapsed financial system. He moved, I think, to a team that he felt was tried and true, in terms of dealing with financial crisis. That was his decision.

Ron Suskind

It's not that we need to form new organizations. It's simply that we have to awaken to new ways of thinking. I believe it makes no sense to spend a lot of time attacking the current realities. It is time to create the new models that have in them the complexity that makes the older systems obsolete. And to the extent that we can do that, and do that quickly, I think we can provide what will be necessary for a major breakthrough for the future.

Don Edward Beck

The current financial crisis in the US is likely to be judged in retrospect as the most wrenching since the end of the Second World War.

Alan Greenspan

The current financial crisis calls out for new products and services as well as more, not less, information about what is safe and profitable in the future environment.

Jeremy Siegel

The financial crisis revealed important weaknesses in many areas of our financial system.

Jerome Powell

There has been a banking crisis, a financial crisis, an economic crisis, a social crisis, a geostrategic crisis and an environmental crisis. That's considerable in a country that's used to being protected.