A Quote by Scott Garrett
When the banks grow to or when these financial institutions grow to such a size that they can't sustain themselves, or what have you, they have problems, economic problems, or financial problems, they shouldn't be able to look back to you and I, the taxpayer, to be bailed out.
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Financial institutions are not being bailed out as a favor to them or their stockholders. In fact, stockholders have come out worse off after some bailouts. The real point is to avoid a major contraction of credit that could cause major downturns in output and employment, ruining millions of people, far beyond the financial institutions involved. If it was just a question of the financial institutions themselves, they could be left to sink or swim. But it is not.
Rich people do not back away from problems, do not avoid problems, and do not complain about problems. Rich people are financial warriors.
As long as the problems of the poor are not radically resolved by rejecting the absolute autonomy of markets and financial speculation and by attacking the structural causes of inequality, no solution will be found for the world’s problems or, for that matter, to any problems.
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.
The Panic of 1819 exerted a profound effect on American economic thought. As the first great financial depression, similar to a modern expansion-depression pattern, the panic heightened interest in economic problems, and particularly those problems related to the causes and cures of depressed conditions.
It is in the whole process of meeting and solving problems that life has meaning. Problems are the cutting edge that distinguishes between success and failure. Problems call forth our courage and our wisdom; indeed, they create our courage and our wisdom. It is only because of problems that we grow mentally and spiritually. It is through the pain of confronting and resolving problems that we learn.
I want to let you in on a little secret. There are no problems. There are no problems. There never were any problems, there are no problems today, and there will never be any problems. Problems just mean that the world isn't turning the way you want it to. But in truth, there are no problems. Everything is unfolding as it should. Everything is right. You have to forget about yourself and expand your consciousness until you become the whole universe. The Reality in back of the universe is Pure Awareness. It has no problems. And you are That.
There are no negro problems, or Polish problems, or Jewish problems, or Greek problems, or women's problems, there are HUMAN PROBLEMS”.
By any measure, CapitalSource outperformed both our direct competitors and the financial services industry in general, particularly in the context of the near collapse of the financial services industry where 19 of the 20 largest financial institutions in the country either failed or were bailed out by the government.
People don't want to see me having a bad morning. They have job problems, financial problems, family pressures, kids to get off to school. The last thing they want to wake up to is someone showing them the same problems. So maybe that's the one time I am forced to act.
When you solve big, hard problems, problems that fundamentally improve how an industry works, financial returns follow, giving you resources to do more of the same.
One of the big problems we had during the financial crisis was the intermingling of banks and holding companies and complex securities.
Critics, often for good reason, are concerned that the Fed is wielding its vast powers in the interests of the banks and not in the interests of the people. After the financial crisis, Americans have perceived that the banks have been bailed out, but a significant proportion of the population is still in serious economic trouble.
The problems in the world today are not political problems, they are not economic problems, and they are not military problems. The problems in the world today are spiritual problems. They have to do with what people believe. They have to do with our most fervently held thoughts and ideas about Life, about God, and most of all, about ourselves, and our very reason for living.
To live is to have problems and to solve problems is to to grow intellectually.
Were I to solve problems for others they would remain stagnant; they would never grow. It would be a great injustice to them. My approach is to help with cause rather than effect. When I help others, it is by instilling within them the inspiration to work out problems by themselves. If you feed a man a meal, you only feed him for a day-but if you teach a man to grow food, you feed him for a lifetime.
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