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Quotes tagged ‘Financial Crisis’

(5 total)

The banking industry bought everything; they even bought their own facts. The industry commissioned three different studies, each of which was touted as independent. Each explained the urgent need to change the law—exactly the way the banking industry wanted it changed. One particularly damaging res…

— Elizabeth Warren, amazon.com

This crisis didn’t have to happen. America had a boom-and-bust cycle from the 1790s to the 1930s, with a financial panic every ten to fifteen years. But we figured out how to fix it. Coming out of the Great Depression, the country put tough rules in place that gave us fifty years without a financial…

— Elizabeth Warren, amazon.com

What they didn't really notice is that as they kept making money every single year, the leverage of their various institutions was increasing every single year. They thought they were making more money because of them. But really what was happening is they were making more money because their instit…

— Steve Eisman, youtube.com

We'll make loans to people we didn't make loans to before. Rather than get incomes up they let people lend to themselves.

— Steve Eisman, youtube.com

Let me explain that because its not intuitively obvious how the two are connected. My thesis is that one of the underline causes of the financial crisis was dead income distribution.

— Steve Eisman, youtube.com

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