A Quote by Richard Grasso

What the American people don't understand is how Merrill Lynch or AIG or Lehman Brothers can reward people, and the entity fails. Not only do the shareholders lose, but the entities lose.

Richard Grasso

Quote Topics

American American People Brothers Entities Entity Fails How Lehman Brothers Lose Only People Reward Shareholders Understand

Quote Author

Richard Grasso
American - Executive
Born: July 26, 1946

Hey, guess what? Turns out the free market? Not so free. Wall Street was hit hard Monday when Lehman Brothers filed for bankruptcy, Merrill Lynch was sold to Bank of America, and insurance giant AIG neared a collapse of its own. Basically, if your commercials air during golf tournaments, you're done.

Amy Poehler

So Merrill Lynch has launched its first campaign in years to advertise the accomplishments of its investment banking business. The ads feature things like Merrill's recapitalization of Sierra Pacific. I guess including "helping Enron achieve its earnings goals in 1999" might be a little awkward given that Merrill Lynch bankers are currently on trial in Houston for that "accomplishment."

Bethany McLean

If you were at Lehman, the same thing happened. If you were at AIG, the shareholders are getting creamed on these things. And those shareholders are not just a bunch of big shots in Wall Street. Those are pension funds, and those are investors all over the country. I wouldn't worry too much about that. Justice won't be perfect on it.

Warren Buffett

My low point was after being reorganized out of running Merrill Lynch. That dismissal deeply contradicted my sense of fairness, since, at the time, my team and I had done what we were brought in to do: We had turned Merrill Lynch around from the depths of the financial crisis.

Sallie Krawcheck

In truth, it's not the shareholders of the American International Group who benefited most from its bailout; they were mostly wiped out. The great beneficiaries have been the creditors and counterparties at the other end of A.I.G.'s derivatives deals - firms like Goldman Sachs, Merrill Lynch, Deutsche Bank, Societe Generale, Barclays and UBS.

Tyler Cowen

When I left my job at Lehman Brothers to start a company, my best friend's mother said, 'How could you leave a sure thing like Lehman to do a silly carpool startup?' That was three months before Lehman went bankrupt.

John Zimmer

Sports is about people who lose and lose and lose. They lose games; then they lose their jobs. It can be very intriguing.

Gay Talese

Without a vision people in leadership positions perish. You not only lose your people, you lose the person who is in a leadership position - you lose it all.

John C. Maxwell

The dirty little secret of what used to be known as Wall Street securities firms-Goldman Sachs, Morgan Stanley, Merrill Lynch, Lehman Brothers, and Bear Stearns-was that every one of them funded their business in this way to varying degress, and every one of them was always just twenty-four hours away from a funding crisis. The key to day-to-day survival was the skill with which Wall Street executives managed their firms' ongoing reputation in the marketplace.

William D. Cohan

I often say to entrepreneurs, 'If Lehman Brothers were Lehman Brothers & Sisters, it wouldn't have gone into bankruptcy.'

Shinzo Abe

Most people understand that Lehman Brothers didn't collapse because Gordon Brown built too many schools and hospitals.

Douglas Alexander

Kids not only understand [a dark story] but appreciate it … Because in the real world there's fear, and dark things happen no matter how young you are. People lose parents, people lose friends … There's darkness in the world. So I think when kids are talked to in that way, they appreciate it. They're not being given some candy-coated, 'Oh, this is a world where there are no stakes.' I think that actually insults their intelligence.

America Ferrera

But I am Armenian and I understand what it is to lose a country and lose a family and have massacres and genocides and everything against my people.

Andrea Martin

The subprime disaster was a result of financial bombs - derivatives - exploding in financial institutions such as AIG and Lehman Brothers, as well as banks and financial institutions throughout the world.

Robert Kiyosaki

Most people never feel secure because they are always worried that they will lose their job, lose the money they already have, lose their spouse, lose their health, and so on. The only true security in life comes from knowing that every single day you are improving yourself in some way, that you are increasing the caliber of who you are and that you are valuable to your company, your friends, and your family.