A Quote by Nouriel Roubini
No country can be complacent in making sure that excessive debt of the household doesn't create excesses and weaknesses in the financial system. Everything is interconnected.
Quote Topics
Quote Author
Related Quotes
I don't want to drive the markets crazy. I don't want to create trouble, but rather order and rules and norms. We have to struggle against financial excesses, those who speculate with sovereign debt, those who develop financial products which have done so much harm.
The process of globalization has now interconnected almost everything ranging from financial markets to transport networks to communication systems in a huge system that no one really understands.
The powers of financial capitalism had a far-reaching aim, nothing less than to create a world system of financial control in private hands able to dominate the political system of each country and the economy of the world as a whole. This system was to be controlled in a feudalist fashion by the central banks of the world acting in concert, by secret agreements arrived at in frequent meetings and conferences.
The financial crisis revealed important weaknesses in many areas of our financial system.
Using taxes to punish the rich, in reality, punishes everyone because we are all interconnected. High taxes and excessive regulation and massive debt are not working.
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.
This country owes them all a debt of gratitude. The down payment on that debt is making sure that we live up to Lincoln's charge: to care for him who shall have borne the battle, and for his widow, and his orphan.
Well, as you know, we're working through a difficult period in our financial markets right now, as we work off some of the past excesses. But the American people can remain confident in the soundness and the resilience of our financial system.
We have to get back to a government where leaders are willing to talk across party lines and do not have absolute politics as the goal. Our goal has to be bettering the country, making sure we have an education system that is world-class and a healthcare system that is world-class, making sure social security is safe. People don't care who is huddling in a corner with whom, making the next political move. If you are elected to do a job, you are supposed to do it to the best of your ability.
[Banks] have a clear obligation to help get this country off its addiction to debt because they sure as hell helped to get this country addicted to debt.
The debt limits have to come down. The whole world of debt has to be changed as far as this country is concerned. We have to create jobs and we have to create them rapidly because if we don't things are just going to head in a direction that's going to be almost impossible to recover from.
In an economy that already has lost some momentum, one must remain alert to the possibility that greater caution and weakening asset values in financial markets could signal or precipitate an excessive softening in household and business spending.
She [Carolyn Maloney] understands the whole picture. She is comfortable with these issues 'cause she is chair of the committee, and she's dogged and will make sure the average woman and man is represented as well as making sure that our financial system stays afloat. In other words, she gets it and she has represented the financial district, but she also represents the average person and definitely the average woman.
The Fed needs to adopt new tools, on its own and perhaps in cooperation with the other parts of the US government, to improve the economy from the bottom up. This includes increasing facilities for debt forgiveness for under-water mortgages and excessive student loans; increased credit facilities for small businesses and cooperatives; helping to underwrite mechanisms for creating affordable housing in cities; and more restrictive enforcement of financial regulatory rules to help rein in excessive banker risk and pay.
Estonia maintains a two-language school system. I don't know many countries in the world that provide a system like ours. We are making sure that our Russian-speaking minority feels comfortable and involved in this country.
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.
Related Authors
Adam Smith Quotes
Scottish
Economist
Alan Greenspan Quotes
American
Economist
Benjamin Graham Quotes
American
Economist
Friedrich August von Hayek Quotes
Austrian
Economist
John Kenneth Galbraith Quotes
American
Economist
John Maynard Keynes Quotes
English
Economist
Joseph Stiglitz Quotes
American
Economist
Ludwig von Mises Quotes
Austrian
Economist
Milton Friedman Quotes
American
Economist
Muhammad Yunus Quotes
Bangladeshi
Economist
Murray Rothbard Quotes
American
Economist
Paul Krugman Quotes
American
Economist
Richard Thaler Quotes
American
Economist
Robert Reich Quotes
American
Economist
Thomas Sowell Quotes
American
Economist
Walter E. Williams Quotes
American
Economist