A Quote by Victor Pinchuk

Financial crisis is the moment of truth for real collectors and true artists. — © Victor Pinchuk
Financial crisis is the moment of truth for real collectors and true artists.
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.
The problem with the focus on speculators, as was demonstrated during the financial crisis, is that it tends to divert attention from the real villains. During the financial crisis, the villains were the actions of the banks, not the speculators betting on bank share prices.
Artists need a lot of collectors, all kinds of collectors, buying their art.
The financial crisis of 2008 created a seismic shift in the dynamics of trust in financial services. FinTech would have happened without the global financial crisis - but it would have taken much longer.
Financial trouble, financial crisis, medical trouble, I've seen it all. But I never experienced a moment of breakdown or self-doubt, somehow.
The financial crisis was a classic case of the political class failing the American people. Twenty-five agencies were supposed to be minding the store during the financial crisis and every one of them was asleep at the switch.
We have already seen some instances of systemic risk in recent times in the Asian financial crisis. But what sparked off the Asian financial crisis? Automated trading programmes!
It's not curators, it's not critics, it's not the public, it's not collectors who find great artists - it's other artists.
Artists... do not need the applause or condemnation of the critics, the ideas of other artists, or the demands of the collectors.
I think what happened in the last 10 or 15 years in the art market is that all the players - and that includes artists, dealers, art advisors, everyone - basically became dealers. We've had old-school collectors morph into speculators, flipping works. We've seen auction houses buying works directly from artists or from sleazy middlemen. The last step before the crash was the artists themselves supplying the auction houses. Dealing themselves, you know? The art world is as unregulated as any financial market there is.
Many artists and critics see collectors like kids see their parents: as the ones with money and power who just don't get it. Once they start to mingle with the collectors and learn that they are people who have achieved something who then expand into art, they change their minds.
It is easier to invest for cash flow during a financial crisis. So don't waste a good crisis by hiding your head in the sand. The longer the crisis lasts, the richer some people will become.
She [Carolyn Maloney] knows the financial issues, that's why we thought she was perfect because we're in a - we're in, as you know, a financial crisis, an economic crisis, and I know that she'll see the whole picture.
Forgive me, I must start by pointing out that three years after our horrific financial crisis caused by financial fraud, not a single financial executive has gone to jail, and that's wrong.
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.
The Fed contributed to the financial crisis, keeping interest rates too low for too long. I give them credit for responding and stabilizing the economy and the financial sector during the crisis. But then they tried to do too much with quantitative easing that went on forever, just dramatically exploding their balance sheets.
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