A Quote by Sharan Burrow

Limiting the destructive risk-taking by large financial firms and banks which are 'too big to fail' is needed.

Sharan Burrow

Quote Topics

Banks Big Destructive Fail Financial Large Limiting Needed Risk Risk-taking Taking Too Which

Quote Author

Sharan Burrow
Welsh - Activist
Born: December 12, 1954

RE: GSEs like Freddie Mac & Fannie Mae: "creditors will continue to underprice the risk-taking of these financial institutions, overfund them, and fail to provide effective market discipline Facing prices that are too low, systemically important firms will take on too much risk."

Gary H. Stern

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

The global financial system consists of firms in the financial services sector - banks, hedge funds, insurance companies and the like - and various governmental agencies who are charged with regulating these firms.

John L. Casti

The heart of the 2008 financial crisis was a coterie of reckless financial executives, working for too-big-to-fail financial companies, who were handsomely compensated for taking risks that almost ruined the economy when they failed.

Gary Weiss

In the future, financial firms of any type whose failure would pose a systemic risk must accept especially close regulatory scrutiny of their risk-taking.

Ben Bernanke

Forget about banks that are too big to fail; the focus should be on cities, municipalities and countries that are too big to fail.

Andrew Ross Sorkin

Large companies and government agencies have a lot to protect and therefore are not willing to take big risks. A large company taking a risk can threaten its stock price. A government agency taking a risk can threaten congressional investigation.

Peter Diamandis

The financial markets are rigged by the big banks, the Federal Reserve, and the Treasury in the interests of the profits of the few big banks and the dollar's exchange value, which is the basis of U.S. power.

Paul Craig Roberts

It is worth noting that 'too big to fail' is not simply about size. A big institution is 'too big' when there is an expectation that government will do whatever it takes to rescue that institution from failure, thus bestowing an effective risk premium subsidy. Reforms to end 'too big to fail' must address the causes of this expectation.

Jerome Powell

Fannie Mae and Freddie Mac - two bloated and corrupt government-sponsored programs - contributed heavily to the crisis.In order to prevent another crisis, we need to do what we should have done years ago - reform Fannie Mae and Freddie Mac. We also need to repeal Dodd-Frank, the Democrats' failed solution. Under Dodd-Frank, 10 banks too big to fail have become five banks too big to fail. Thousands of community banks have gone out of business.

Carly Fiorina

In the financial system we have today, with less risk concentrated in banks, the probability of systemic financial crises may be lower than in traditional bank-centered financial systems.

Timothy Geithner

In the financial system we have today, with less risk concentrated in banks, the probability of systemic financial crises may be lower than in traditional bank-centered financial systems

Timothy Geithner

We need to think deeply about whether we can sustain banks that are not only too big to fail, but potentially too big to bail.

George Osborne

The actions taken by central banks and other authorities to stabilize a panic in the short run can work against stability in the long run if investors and firms infer from those actions that they will never bear the full consequences of excessive risk-taking.

Ben Bernanke

My fantasy is to break up the big banks. I wish we would end 'too big to fail' in our banking system.