27 Quotes About Financial-crisis

...If you look at mainstream economics there are three things you will not find in a mainstream economic model - Banks, Debt, and Money. How anybody can think they can analyze capital while leaving out Banks, Debt, and Money is a bit to me like an ornithologist trying to work out how a bird flies whilst ignoring that the bird has wings...

Imagine the big rating agencies as three competitive saloons standing side by side, with each free to set its own drinking age. Before long, nine-year-olds would be downing bourbon

Universal Basic Income is a net transfer, so the true cost is lower than most people describe it.If you gave £1,000 a month to everyone in the country for a few months, the cost would still be in a similar ballpark to the bailout during the financial crisis and rather than bailing out the banks we would be bailing out people and small businesses, which is quite compelling.

With the power of God, we can scale any wall.

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.

How do you explain to an innocent citizen of the free world the importance of a credit default swap on a double-A tranche of a subprime-backed collateralized debt obligation? He tried, but his English in-laws just looked at him strangely. They understood that someone else had just lost a great deal of money and Ben had just made a great deal of money, but never got much past that. "I can't really talk to them about it," he says. "They're English.

Financial illiteracy is like being in a rain storm and trying to jump in between the raindrops... eventually it all catches you at the same time.

Hedge funds have made massive leveraged credit bets, knowing that their upside is billions in fees and their downside is millions in fees.

Lack of financial planning is the root of all empty wallets