Every financial crisis is made out of excess money and credit. — Russell Napier
The financial crisis appears to be mostly behind us, and the economy seems to have stabilized and is expanding again. — Ben Bernanke
The financial crisis revealed important weaknesses in many areas of our financial system. — Jerome Powell
The financial crisis involved significant failures in the functioning, regulation, and supervision of OTC derivatives markets. — Jerome Powell
Never before in modern times has so much of the world been simultaneously hit by a confluence of economic and financial turmoil such as we are now living through. — Timothy Geithner
The economic crisis really affected my family - 2006 to 2011 were really bad times. Almost everybody in my family lost their jobs. — Joey Badass
Worry is in short supply, risky borrowers, questionable schemes, precarious financial system — Howard Marks
What we know about the global financial crisis is that we don't know very much. — Paul Samuelson
I think the IMF helped to detonate the Indonesian crisis. — Jeffrey Sachs
The financial crisis and the Great Recession left firms with excess capacity, reducing incentives to invest. — Jerome Powell
We're on the verge of a financial collapse unless we balance the budget, and that means some really, really tough decisions. — Gary Johnson
There are downsides to implicitly trusting banks, as the 2008 financial crisis showed. — Balaji Srinivasan
Alas, in 1929 came the Stock Market crash and everything changed and became worrisome. People started practicing conservatism because of financial losses, myself included. — Pola Negri
The banking collapse was caused, more than anything, by bad government policy and the total failure of bad regulation, rather than by greed. — Nigel Farage
There's a danger our fiscal bankruptcy might overtake our moral bankruptcy. — Mort Sahl
Short Financial Crisis Quotes
It's a recession when your neighbor loses his job; it's a depression when you lose yours. — Harry S. Truman
It's a recession when your neighbor loses his job; it's a depression when you lose yours. — Harry S Truman
The number one problem in today's generation and economy is the lack of financial literacy. — Alan Greenspan
Many of the great financial disasters we’ve seen have been failures to foresee and manage risk. — Howard S. Marks
A credit bubble is a short-term solution that creates long-term problems. — Russell Napier
When written in Chinese the word "Crisis" is composed of two characters. One represents danger and the other represents opportunity.
2008 Financial Crisis Quotes
Banks died in 2008. They just haven’t been buried yet. — Max Keiser
Starting in the wake of the 2008 GFC global financial crisis, market observers have warned of a crash in the bond market. initially, it was believed that the trillions printed to bail out the banks would cause inflation and, therefore, a flight from bonds. — Max Keiser
I experienced the year 2000 dot com crash and the 2008 financial crisis, and it almost wiped out the company. — Eric Yuan
My poor dad said, 'You need to know a lot about one speciality.' My rich dad said, 'You need to learn a little about a lot of things.'
The financial crisis of 2008 was not caused by investment banks betting against the housing market in 2007. It was caused by the fact that too few investors - including all of the big investment banks - bet too heavily on the housing market in the years before 2007. — James Surowiecki
The single most remarkable (and revealing) fact of the Obama presidency may very well be the lack of a single prosecution of Wall Street executives for the massive fraud that precipitated the 2008 financial crisis. — Glenn Greenwald
It took us years to get into the mess that we got ourselves in at the end of 2008, and it's going to take a while to get us out. We lost eight million jobs, we saw a financial system near collapse, we have a continuing housing crisis that we're making progress on dealing with. — Robert Gibbs
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.
Not every financial company toppled during the 2008 crisis, and some seized the opportunity to take advantage of weaker competitors in the midst of the tumult. — James C. Collins
September and October of 2008 was the worst financial crisis in global history, including the Great Depression. — Ben Bernanke
For the last several decades, there was a prevailing belief among traditional economists that the markets were rational and self-correcting. Alan Greenspan advocated this view. But the 2008 financial crisis showed that this view is incorrect, and Greenspan eventually admitted as much. — Kabir Sehgal
Ever since the Great Depression, economists have known that demand shortages tend to persist in the wake of severe financial crises like the ones that happened in 1929 and 2008. — Bob Frank
Global Financial Crisis Quotes
Sometimes it takes a crisis for people to agree that what is obvious and should have been done years ago, can no longer be postponed. We must create a new international financial architecture for the global age. — Gordon Brown
The global crisis is caused by pathologies inherent in the global financial system itself. — George Soros
The global financial crisis - missed by most analysts - shows that most forecasters are poor at pricing in economic/financial risks, let alone geopolitical ones. — Nouriel Roubini
May future generations look back on our work and say that these men and women who, in a moment of great crisis, stood up to their politicians, the opinion-makers, and the establishment, and saved their country.
There was, of course, a global financial crisis. But our Labour predecessors left Britain exceptionally vulnerable and damaged: more personal debt than any other major economy; a dangerously inflated property bubble; and a bloated banking sector behaving as masters, not the servants of the people. — Vince Cable
Edward Conard provides a provocative interpretation of the causes of the global financial crisis and the policies needed to return to rapid growth. Whether you agree or not, this analysis is well worth reading. — Nouriel Roubini
It's just very hard to teach a class of students about what has happened in the Global Financial Crisis, how we ended up there and how we got to where we are today, without having some basic, non-trivial understanding of the financial sector, credit, and the banking system. — Alan M. Taylor
Senator Obama will be taking office at a critical juncture. There are many pressing challenges facing the international community, including the global financial crisis and global warming. We look forward to working closely with President-elect Obama and his team to address these challenges. — Helen Clark
Institutions of the newer participants in global finance had not been tested, until recently...recent crisis have underscored certain financial structure vulnerabilities that are not readily assuaged in the short run. — Alan Greenspan
The Death of Money is an engrossing account of the massive stresses accumulating in the global financial system, especially since the 2008 financial crisis. Jim Rickards is a natural teacher. Any serious student of financial crises and their root causes needs to read this book. — John H. Makin
Like the effects of industrial pollution and the new system of global financial markets, the AIDS crisis is evidence of a world in which nothing important is regional, local, limited; in which everything that can circulate does, and every problem is, or is destined to become, worldwide. — Susan Sontag
Inspirational Quotes
Religion is for people who fear hell, spirituality is for people who have been there. — David Bowie
One day you will ask me which is more important? My life or yours? I will say mine and you will walk away not knowing that you are my life. — Kahlil Gibran
Life is short. Kiss slowly, laugh insanely, love truly and forgive quickly — Paulo Coelho
The POSITIVE THINKER sees the INVISIBLE, feels the INTANGIBLE, and achieves the IMPOSSIBLE. — Winston Churchill
I had to make my own living and my own opportunity. But I made it! Don't sit down and wait for the opportunities to come. Get up and make them. — Madam C. J. Walker
Every day may not be good... but there's something good in every day — Alice Morse Earle
Good Quotes
A true friend is someone who thinks that you are a good egg even though he knows that you are slightly cracked. — Bernard Meltzer
With or without religion, you would have good people doing good things and evil people doing evil things. But for good people to do evil things, that takes religion. — Steven Weinberg
I've had good times and I've had bad times and I reminisce, maybe when I lay down, but throughout my day I keep myself engulfed in whatever moment I'm in because it could steer me into a depressed state. — Kevin Gates
No matter how successful you become you gotta keep grindin' and be a good person and then good things will come to you. — Meek Mill
Love is friendship that has caught fire. It is quiet understanding, mutual confidence, sharing and forgiving. It is loyalty through good and bad times. It settles for less than perfection and makes allowances for human weaknesses. — Ann Landers
You have enemies? Good. That means you've stood up for something, sometime in your life. — Winston Churchill
That is the difference between good teachers and great teachers: good teachers make the best of a pupil's means; great teachers foresee a pupil's ends. My teacher was Ferruccio Cusinati — Maria Callas
Waste no more time arguing about what a good man should be. Be one. — Marcus Aurelius
Economic Crisis Quotes
I will not let anyone tell me we must spend more money. This crisis did not come about because we issued too little money but because we created economic growth with too much money and it was not sustainable growth. — Angela Merkel
The climate crisis is being used to create totalitarian controls on society by the World Economic Forum, Bill Gates, and all of these megabillionaires. — Robert F. Kennedy, Jr.
Now our Earth is swarmed with issues such as life, death, illness, wars, economic crises and many others. It is time that we sing out loud the message, 'Love forever.' — Yayoi Kusama
The financial crisis should not become an excuse to raise taxes, which would only undermine the economic growth required to regain our strength. — George W. Bush
If we have an economic crisis in the Western world it's because the government makes up 50 percent or more of the economy. This is a cancer that is taking away people's freedom. — Marc Faber
The exchange-rate trap, another legacy of this former president Alberto Fernández’s government, not only constitutes a social and productive nightmare, but also the surplus of money today is double what it was before the Rodrigazo economic crisis of 1975. — Javier Milei
What the people here have said is that given the enormous crises facing our country, it is just too late for the same old, same old establishment politics and establishment economics. — Bernie Sanders
Women's struggle for equality worldwide is about more than equality between men and women. Our struggle is about reversing the trends of social, economic, political, and ecological crisis - a global nervous breakdown! Our struggle is about creating sustainable lives and attainable dreams. — Bella Abzug
Marxists have more than once pointed out that the capitalist world economic system contains in itself the seeds of a general crisis and of warlike clashes. — Joseph Stalin
Ebola is not just a health crisis. Across West Africa, a generation of young people risks being lost to an economic catastrophe. — Ellen Johnson Sirleaf
Banking Crisis Quotes
I see in the near future a crisis approaching that unnerves me and causes me to tremble for the safety of my country. — Abraham Lincoln
When banks stop working, the world turns to Bitcoin. — Michael Saylor
After the last financial crisis, the banks more than doubled their capital and liquidity and they’re far more aware and better at managing the risks they’re taking. — Jerome Powell
And the banks - hard to believe in a time when we're facing a banking crisis that many of the banks created - are still the most powerful lobby on Capitol Hill. And they frankly own the place. — Dick Durbin
The banks lobbied Washington so they could write the rules that got us into this crisis. They then lobbied Washington to get the money to bail them out. And then they are lobbying Washington to write the rules so they can get us into the next crisis. It's perfect circularity. — Elizabeth Warren
Suckers think that you cure greed with money, addiction with substances, expert problems with experts, banking with bankers, economics with economists, and debt crises with debt spending — Nassim Nicholas Taleb
Banks have come to realize in the recent crisis that they are paying the price for having designed compensation packages which provide incentives that are not, in the long run, in the interests of the banks themselves, and I would like to think that would change. — Mervyn King
The World Bank is now the biggest culprit in the debt crisis. — Susan George
If there is one common theme to the vast range of crises...it is that excessive debt accumulation, whether it be by the government, banks, corporations, or consumers, often poses greater systemic risks than it seems during a boom. — Carmen Reinhart
There is a well-established conviction that the central banks always do what is necessary to keep the system going and then afterwards you then take care of the legal aspects. In a crisis, you simply do not have time to think about such concerns for too long. — George Soros
Financial Collapse Quotes
Global bonds are collapsing in their fiat currencies, which are collapsing against the dollar, which is fast losing purchasing power. It will be months & years before the average fiat user realizes just how much they're getting ruined financially. The new normal is poverty. — Saifedean Ammous
The period of financial distress is a gradual decline after the peak of a speculative bubble that precedes the final and massive panic and crash, driven by the insiders having exited but the sucker outsiders hanging on hoping for a revivial, but finally giving up in the final collapse. — Charles P. Kindleberger
I'd be kidding if I said that I predicted the financial collapse. — Fareed Zakaria
Recently released government economic statistics covering 2010, the first year of real recovery from the financial collapse of 2008, found that fully 93 percent of additional income gains coming out of the recession went straight into the wallets and purses of the top 1 percent. — Eric Alterman
At a time when our country is waging two wars, approval ratings for Congress are at historic lows, unemployment is at a 70-year high and financial institutions have collapsed around us, I can't imagine anyone seriously opposing a National Day of Prayer. — Franklin Graham
Investing in auto companies and ensuring a financial collapse didn't lead not from a recession to a great depression may not have been the most popular thing to do, but it was the right thing to do. — Robert Gibbs
No one, no social group, can today avoid the commitment to contribute to the clean up of public finances in order to prevent the financial collapse of Italy. The sacrifices will not be in vain, especially if the economy begins to grow again. — Giorgio Napolitano
After the risky mortgage-lending practices fostered by government intervention led to massive defaults and foreclosures that caused financial institutions to collapse or be bailed out, Congressman Frank changed his tune completely. — Thomas Sowell
There are specific times where film noir is a natural concomitant of the mood. When there's insecurity, collapse of financial systems - that's where film noir always hits fertile ground. — Werner Herzog
Cause and effect, the riddle of all history, is a particular devil in financial history; and never more so than today, where entire classes of security are collapsing not on public exchanges and stock-tickers but because there are no markets to establish prices this side of nothing. — James Buchan
Housing Crisis Quotes
If you're setting a game during the Cuban Missile Crisis, look through a library. find out what people were wearing, what other issues were in the news, how houses were furnished, what cars were being driven. Especially include things which now seem foreign. — Graham Nelson
These two entities Fannie Mae and Freddie Mac are not facing any kind of financial crisis. The more people exaggerate these problems, the more pressure there is on these companies, the less we will see in terms of affordable housing. — Barney Frank
Books, like all art, breed in us desire. In times of crisis and fear and misrepresentation we need desire, or else we shut down and hide out in our houses, succumbing to infotainment and the ease of an available latte, turning off our brains and emotions. Books breed desire. — Lidia Yuknavitch
The White House isn't the place to learn how to deal with international crisis, the balance of power, war and peace, and the economic future of the next generation. — Joe Biden
We all live in a house on fire, no fire department to call; no way out, just the upstairs window to look out of while the fire burns the house down with us trapped, locked in it. — Tennessee Williams
Gaza will become part of sovereign Israel and will be populated by Jews. This will also serve to ease the housing crisis in Israel — Moshe Feiglin
Anyone that says the housing crisis can be resolved with one magic bullet or by the next election isn't being honest. — David Lammy
Human beings are often at their best when responding to immediate crises - car accidents, house fires, hurricanes. We are less effective in the face of enormous but slow-moving crises such as the loss of biodiversity or climate change. — David Suzuki
Donald was one of the people who rooted for the housing crisis. He said, back in 2006, gee, I hope it does collapse because then I can go in and buy some and make some money. Well, it did collapse. — Hillary Clinton
In fact, Donald [Trump] was one of the people who rooted for the housing crisis. — Hillary Clinton
Great Recession Quotes
The financial crisis and the Great Recession posed the most significant macroeconomic challenges for the United States in a half-century, leaving behind high unemployment and below-target inflation and calling for highly accommodative monetary policies. — Jerome Powell
The exposure from 'Iron Chef' has been helpful, but at the end of the day your product and your service determine whether you get customers or not. If people decide to eat out less during a recession, the first restaurants that they will cut out are the ones that don't do a great job. — Michael Symon
Credit is like a drug. Initially, it feels great as it stimulates economic activity, but eventually, you become addicted and require more and more to achieve the same effect. — Russell Napier
Up to our own day American history has been in a large degree the history of the colonization of the Great West. The existence of an area of free land, its continuous recession, and the advance of American settlement westward, explain American development. — Frederick Jackson Turner
The biggest problem in correcting errors in the market is that stocks look best when they are at the peak and not so great when they are at the bottom. — Thomas Phelps
There may be a recession in stock prices, but not anything in the nature of a crash. — Irving Fisher
While some people might find it distasteful to pay taxes, I don't. I find it patriotic. — Mark Cuban
As sure as the spring will follow the winter, prosperity and economic growth will follow recession. — Robert Foster Bennett
Once supply begins to dwindle, the years to follow will see shortages that at best will cause global recession, possibly worse than the 1930s Great Depression, ... war, famine, pestilence and death. — Kenneth S. Deffeyes
Housing was ground zero for the Great Recession. Between early 2006 and Obama's inauguration in 2009, average house prices fell by a third across the country. In certain areas, including cities as diverse as Akron, Orlando and Las Vegas, house prices fell by more than half. — Mark Zandi
Debt Crisis Quotes
Armaments, universal debt and planned obsolescence - those are the three pillars of Western prosperity. — Aldous Huxley
All crises have involved debt that, in one fashion or another, has become dangerously out of scale in relation to the underlying means of payment. — John Kenneth Galbraith
I am confident that we can overcome this crisis, provided that we remain united in our effort to address our debt and competitiveness problems. And I think that the Greek people are united; it's important also that the political forces are united in line with the will of the Greek people. — Lucas Papademos
Civilization has given us enormous successes: going to the moon, technology. But then this is the civilisation that took us to debt, environmental crisis, every single crisis. We need a civilization where we say goodbye to these things. — Muhammad Yunus
At this time - we're in a dramatic crisis - euro bonds are precisely the wrong answer. They lead us into a debt union, not a stability union. Each country has to take its own steps to reduce its debt. — Angela Merkel
Our platform calls for a balanced deficit reduction plan where the wealthy pay their fair share. And when your country is in a costly war, with our soldiers sacrificing abroad and our nation facing a debt crisis at home, being asked to pay your fair share isn't class warfare - it's patriotism. — Cory Booker
We know that advanced economies with stable governments that borrow in their own currency are capable of running up very high levels of debt without crisis. — Paul Krugman
Our debt is out of control. What was a fiscal challenge is now a fiscal crisis. We cannot deny it; instead we must, as Americans, confront it responsibly. And that is exactly what Republicans pledge to do. — Paul Ryan
Look, the president is elected to lead and to face the country's biggest challenges. The country's biggest challenge domestically speaking, no doubt about it, is a debt crisis, and I'm really hoping that he is going to give us a budget that tackles this debt crisis. — Paul Ryan
When your country is in a costly war, with our soldiers sacrificing abroad and our nation facing a debt crisis at home, being asked to pay your fair share isn't class warfare - it's patriotism. — Cory Booker
Being on a movie set is like one long financial crisis. — John Cusack
The public understands that the government is broke, but many still don't want to cut programs they enjoy or depend on. — Tucker Carlson
Blaming speculators as a response to financial crisis goes back at least to the Greeks. It's almost always the wrong response. — Lawrence Summers
Spain is struggling, and has always struggled because of its geography. Its narrow coastal plains have poor soil, and access to markets is hindered internally by its short rivers and a highland plateau surrounded by mountain ranges. It was left behind after the Second World War, as under the Franco dictatorship it was politically frozen out of much of modern Europe. The newly democratic Spain joined the EU in 1986. By the 1990s, it had begun to catch up with the rest of Western Europe, but its inherent geographic and financial weaknesses continue to hold it back and have intensified the problems of overspending and loose central fiscal control, making it among the countries hit worst by the ’08 economic crisis. — Tim Marshall
In 2012, when the European financial bailouts, to keep Greece afloat and in the euro currency zone, began and demands for Greek austerity measures were made, the geographical divide soon became obvious. The donors and demanders were the northern countries, the recipients and supplicants mostly southern. It didn’t take long for Germans to point out that they were working until 65 but paying taxes that were going to Greece so people could retire at 55. — Tim Marshall
No one should have to choose between medicine and other necessities. No one should have to use the emergency room every time a child gets sick. And no one should have to live in constant fear that a medical problem will become a financial crisis. — Brad Henry
I want to see somebody go to jail over the financial crisis and not just black, brown and poor whites over humbles and minor drug beefs. — Don Cheadle
I saw the government really using the excuse of a weak economy and a financial crisis to create more government and to push onto the American entrepreneurial society more and more restraints and government activity. — Rob Portman
I ran for Congress not because I was having a mid-life crisis. I left the private sector because I saw a looming financial crisis that was coming to this country. It's unsustainable. — Steve Daines
Asean is obviously a very important association for us. Over the past 30 years Asean has made great strides in regional cooperation covering a number of areas, although recently it has been under strain because of the financial crisis and other challenges. — Hassanal Bolkiah
There are no atheists in foxholes and there are no libertarians in financial crises. — Paul Krugman
My daughter asked me when she came home from school, "What's the financial crisis?" and I said, it's something that happens every five to seven years. — Jamie Dimon
Looking past the immediate crisis, a more resilient system must be built on stronger and better designed shock absorbers, both in the major institutions and in the infrastructure of the financial system. — Timothy Geithner
These public-private partnerships are very, very dangerous. The most rotten part of the financial system in the US consisted of the government sponsored entities, Fannie Mae and Freddie Mac. They really kicked off this crisis. The state should set the rules and enforce them - but not become involved as a market player. — George Soros
What we call a financial crisis is really at its core a crisis of management, and not just a crisis of management, but a crisis of management culture. ...In other words, what you had is a detachment of people who know the business from people who are running the business. — Henry Mintzberg
'Nobody goes to jail.' This is the mantra of the financial-crisis era, one that saw virtually every major bank and financial company on Wall Street embroiled in obscene criminal scandals that impoverished millions and collectively destroyed hundreds of billions, in fact, trillions of dollars of the world's wealth - and nobody went to jail. — Matt Taibbi
If one sentence were to sum up the mechanism driving the Great Stagnation, it is this: Recent and current innovation is more geared to private goods than to public goods. That simple observation ties together the three major macroeconomic events of our time: growing income inequality, stagnant median income, and the financial crisis. — Tyler Cowen
The financial crisis happened because no-one could actually say out loud how bad things were. — Mark Ravenhill
Godfulness is simply recognizing the primacy of a presence of love, spaciousness, grace, generativity, caring, and creativity in the world and in myself. How can a mere financial crisis compare to that? The Generative Mystery cannot go bankrupt. It is not subject to scarcity. We never run out of God. — David Spangler
I only wanted to be a good employee who generated as much profit as possible for his employer. I was merely a small cog in the machine - and now I'm suddenly supposedly the main person responsible for the financial crisis. — Jerome Kerviel
Almost no one will accept responsibility for his or her role in precipitating a crisis: not leveraged speculators, not willfully blind leaders of financial institutions, and certainly not regulators, government officials, ratings agencies or politicians. — Seth Klarman
Governments must commit to sound economic and financial policies. This is how we ensure reform in the euro area - and our independence. — Mario Draghi
These two entities—Fannie Mae and Freddie Mac—are not facing any kind of financial crisis. — Barney Frank
The times are too difficult and the crisis too severe to indulge in schadenfreude. Looking at it in perspective, the fact that there would be a financial crisis was perfectly predictable: its general nature, if not its magnitude. Markets are always inefficient. — Noam Chomsky
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. — Robert Kiyosaki
If we are really serious about preventing another crisis like the 2008 meltdown we should simply ban complex financial instruments, unless they can be unambiguously shown to benefit society in the long run. This is what we do all the time with other products-drugs, cars, electrical products and many others. — Ha-Joon Chang
In Conclusion
Which quotation resonated with you best? Did you enjoy our collection of financial crisis quotes? Or may be you have a slogan about financial crisis to suggest. Let us know using our contact form.
Citation
Feel free to cite and use any of the quotes in this collection of financial crisis quotations. For popular citation styles(APA, Chicago, MLA), please use this citation page.
