Quoting the Crisis

“It is poor civic hygiene to install technologies that could...”
— Bruce Schneier in his book...

Apr 30th

“What’s needed is a new way to unwind these big institutions....”
— FDIC Chairman Sheila Blair in...

Apr 30th

“Emboldened by newfound profits and eager to shake off...”
— Graham Bowley and Eric Dash in...

Apr 30th

“The U.S. economy contracts 6.1% in the first quarter, a...”
— Barry Ritholtz in GDP Drops,...

Apr 30th

“I don’t know why Ken Lewis just continues to just come...”
— Sydney Finkelstein a Professor...

Apr 29th

“President Barack Obama plans to announce tomorrow that...”
— Mike Ramsey and Christopher...

Apr 29th

“The Chinese central bank has a significant advantage over...”
— Vitaliy N. Katsenelson in The...

Apr 28th

“I don’t know Tim Geithner. But I have no reason to believe...”
— James Kwak in Pierre Bourdieu,...

Apr 28th

“The government has to take risk, and we are going to be...”
— Tim Geithner, Treasury...

Apr 28th

“Citi and BofA, both of which have large securities...”
— Yves Smith in naked...

Apr 28th

“The ideal interest rate for the US economy in current...”
— Krishna Guha in Fed study puts...

Apr 27th

“On Friday, the German daily Süddeutsche Zeitung (SZ) leaked...”
— Edward Harrison in German...

Apr 27th

“Japan’s $1.5 trillion state pension fund – the...”
— Ambrose Evans-Pritchard in The...

Apr 27th

“Some of the bondholders own credit default swaps, which...”
— David Welch in GM: Some...

Apr 27th

“But DiPascali could spell trouble for certain key Madoff...”
— James Bandler and Nicholas...

Apr 27th

“Nearly all American home mortgages are funneled into a...”
— introduction to a detailed...

Apr 27th

“The Chinese economy posted 6.1%Y real GDP growth in 1Q09....”
— Qing Wang, Denise Yam &...

Apr 27th

“I can tell you the principal role is to be in charge of...”
— An investment consultant...

Apr 26th

“Why didn’t rating agencies build in some cushion for...”
— Kai Gilkes of the credit...

Apr 24th

“The Italian car group Fiat could take over General Motors...”
— David Gow and Andrew Clark in...

Apr 24th

“Auction-rate preferred securities is the largest fraud ever...”
— Harry Newton, a private...

Apr 24th

“It’s a problem with the culture of spending. No matter how...”
— Gustavo Dolfino, the president...

Apr 24th

“Chrysler LLC is preparing to file for Chapter 11 bankruptcy...”
— Jeffrey McCracken, John D....

Apr 24th

“Anyone in this country running something called an...”
— Thomas Mulcair quoted by Leo...

Apr 24th

“The old order that’s been running the American establishment...”
— William Greider quoted by...

Apr 23rd

“There’s good reason for the resistance to pay caps...”
— Another View: Goldman...

Apr 23rd

“For all Goldman Sachs’s bluster about returning troubled...”
— Jon Unia in a letter to the...

Apr 23rd

“Industrial production fell 1.5% in March from a month...”
— Jeff Harding in Green Shoots?

Apr 23rd

“While the rate of economic contraction is slowing compared...”
— Nouriel Roubini in RGE Monitor...

Apr 23rd

“If you think the big banks are strong today, as they...”
— Simon Johnson in Irreversible...

Apr 23rd

“Why is being hard on loans but not on securities a...”
— Yves Smith in< Stress Tests...

Apr 22nd

“It is unfathomable how Mr. Donnelly would not be restricted...”
— Tyler Durden in Guest Post:...

Apr 22nd

“Pension funds claim that the shift into alternative...”
— Leo Kolivakis in Guest Post:...

Apr 22nd

“As I’ve noted before, most housing busts have two...”
— Calculated Risk: NY...

Apr 22nd

“So long as Goldman Sachs may need us again in the future,...”
— Nassim Nicholas Taleb in...

Apr 21st

“What’s particularly puzzling is why the banks don’t just try...”
— Andrew Ross Sorkin in Bank...

Apr 21st

“Although perfectly legal, this move is also perfectly...”
— Sydney Finkelstein, the Steven...

Apr 21st

“Here we find proof that Goldman Sachs has indeed usurped...”
— Reggie Middleton in Who is the...

Apr 21st

“The pension funds of the Service Employees International...”
— Stephen Bernard in The...

Apr 21st

“People are always asking me: ‘Are the people who got...”
— Prof. Daniel Kahneman, quoted...

Apr 20th

“Financial companies are the best performers in the Standard...”
— David Wilson in S&P 500...

Apr 20th

“As Joseph Stiglitz and pretty much any private equity...”
— Yves Smith in Nationalization...

Apr 20th

“Mr Blankfein criticised Wall Street’s past pay practices as...”
— John Gapper in Don’t set...

Apr 20th

“The biggest financial institution in Florida, $14 billion...”
— Tyler Durden in Zero Hedge:...

Apr 20th

“Frank said lenders commonly gave appraisers an estimated...”
— Joe Eaton in The Appraisal...

Apr 19th

“The easiest criticism of macroeconomists is that nearly all...”
— Peter Coy in What Good are...

Apr 19th

“And in assessing the relatively worthiness of receiving help...”
— Tom Dresslar, spokesman for...

Apr 19th

“The idea of negative interest rates may strike some people...”
— N. Gregory Mankiw, professor...

Apr 19th

“While the Office of the Comptroller of the Currency and...”
— Robert Schmidt in Bank...

Apr 19th

“The PPIP is looking more and more like a program to help...”
— Edward Harrison in Jamie...

Apr 17th

“This crisis was not a random, once-in-a-lifetime thing that...”
— Daniel Gross in Reining In...

Apr 17th

“It is unlikely that overleveraged economies will be able to...”
— IMF World Economic Outlook...

Apr 17th

“U.S. employers fired more than 650,000 workers during each...”
— Hui-yong Yu in U.S. Office...

Apr 17th

“The funding deficit of New Jersey’s public pension system...”
— Stacie Servetah in N.J....

Apr 17th

“Towers Perrin found in March that pension fund liabilities...”
— Mark Duke in The end of...

Apr 17th

“I recommend we scrap private pensions altogether and create...”
— Leo Kolivakis in Guest Post:...

Apr 17th

“The concerns that the problem assets on bank balance sheets...”
— Michael Mussa, senior fellow,...

Apr 17th

“The Department of Justice’s Antitrust Division should be...”
— Simon Johnson in Bring In The...

Apr 16th

“It is noteworthy that in the euro area, the increase in the...”
— Michael Mussa, senior fellow,...

Apr 16th

“After months of trying to get extensions on its loans, the...”
— David Kestenbaum in NPR: Mall...

Apr 16th

“Is the public ever going to have clear facts regarding any...”
— Paul O’Neil, former...

Apr 16th

“Ms. Hegland does an incredible job of describing the degree...”
— Joseph R. Mason in Regulatory...

Apr 16th

“In the Edelman survey, two-thirds of respondents say they...”
— Barry Salzberg in Trust Inc. |...

Apr 16th

“Yes, taxpayers, close your eyes and try to picture a...”
— Chana-Joffe-Walt in Banks Balk...

Apr 15th

“We were very angry that we were paying for the sins of...”
— Salvatore Marranca, CEO of...

Apr 15th

“The effect on the securitization market was electric. Armed...”
— Felix Salmon in Recipe for...

Apr 14th

“But the WSJ wants you to think that going even beyond...”
— Ken Houghton in Capitalism...

Apr 14th

“Singapore’s economy plummeted nearly 20pc in the first...”
— Singapore’s economy...

Apr 14th

“Maintaining the status quo is not a good bet, and we cannot...”
— Deepak Morjani, a Deutsche...

Apr 14th

“Prices may not fall in the near term but I expect a collapse...”
— Cao Jianhai, professor at the...

Apr 14th

“Unfortunately, the myopia of the political cycle pre-...”
— Stephen Roach in Averting...

Apr 14th

“The largest is lack of clarity in the US about the...”
— Michael Spence, former dean of...

Apr 14th

“Overall, Sweden’s financial crisis containment and...”
— Kent Cherny and Emre Ergungor...

Apr 14th

“GS earned twice what the street expected in a period of time...”
— Dan Greenhaus in 4/14 Morning...

Apr 14th

“But even more importantly, we need to build countercyclical...”
— A.H.E.M. Wellink, president...

Apr 14th

“Side letters were a topic of concern a couple of years ago,...”
— The SEC’s shopping list...

Apr 14th

“Indeed the banks — both commercial and holding...”
— Jean-Philippe Saint-André in...

Apr 14th

“The fee for hedging against losses on $10 million of...”
— Satyajit Das in Credit Default...

Apr 13th

“How can we still refer to these people as talented, smart,...”
— John Robb in Talented grifters...

Apr 13th

“Real economic growth is to be found in a broad employment...”
— G7 Industrial Production...

Apr 13th

“Right now there’s offices full of the best minds of my...”
— The Best Minds of...

Apr 13th

“People looking for clarity during the current economic...”
— Financial Bloggers Gain...

Apr 13th

“Increasing taxes on the rich, in other words, has some...”
— David Leonhardt in Richly...

Apr 13th

“The tax break in question was included as part of the...”
— Dan Eggen in Investments Can...

Apr 13th

“The financial industry isn’t leaving anything to...”
— Michael Hirsch in Wall Street...

Apr 13th

“Funny how contracts are sacred until they are the ones you...”
— Yves Smith in Banks Whining...

Apr 13th

“The changes were introduced to promote the orderly unwinding...”
— William Goldman, a partner at...

Apr 13th

“The large lenders did exactly what they could be expected to...”
— Robert Reich in Why...

Apr 13th

“Anyone who is doing anything sensible right now is either...”
— A quant trader quoted by Tyler...

Apr 13th

“We have no reason to believe, based on this announcement,...”
— Expect[ed] Loss:...

Apr 12th

“Goldman Sachs is attempting to shut down a dissident blogger...”
— James Quinn in Goldman Sachs...

Apr 11th

“The fact that the government has asked to take funding from...”
— Hugh Robertson, shadow...

Apr 11th

“The CDS and CDO markets grew together, feeding on each...”
— Felix Salmon in Recipe for...

Apr 11th

“We need more people reporting on the shady doings of the...”
— Ryan Chittum in Scrappy...

Apr 11th

“If it’s too big to fail, it’s too big to exist....”
— Pledge to break up the banks...

Apr 11th

“Chinese people eager to leave behind the age of the bicycle...”
— Jane Macartney in China bucks...

Apr 10th

“The recovery of the banking sector should also be signalling...”
— Mark J. Perry in The Real Bank...

Apr 10th

“We’re in this classic economic model where we’ve got...”
— John Fox, a hotel consultant...

Apr 10th

“The leaning away from capitalism in the survey is not a...”
— Yves Smith in naked...

Apr 10th

“The technocratic options are simple, (1) assume a better...”
— Simon Johnson in What Next For...

Apr 9th

“I suppose a collapse in U.S. imports is one way to rebalance...”
— Calculated Risk: U.S. Trade...

Apr 9th

“Five central banks have agreed to currency swap lines that...”
— Foreign Currency Liquidity...

Apr 8th

“In France in the 1980s, the socialists took over the banks....”
— Nassim Nicholas Taleb in Ten...

Apr 8th

“Both Harvard and Vanderbilt Universities, for example, held...”
— Goldie Blumenstyk in Debt Bomb...

Apr 8th

“Over time we need to adopt Limited Purpose Banking, which...”
— Laurence J. Kotlikoff in Scrap...

Apr 8th

“Vacancies at U.S. malls and shopping centers rose to their...”
— Hui-yong Yu in Vacancies at...

Apr 8th

“The problems facing the largest competitive currency, the...”
— Richard Fisher, president of...

Apr 8th

“The largest state and municipal pension plans lost 9 per...”
— Deborah Brewster in FT.com /...

Apr 8th

“The Death Star strategy (yes, they called it that) was where...”
— Banks as Bidders and Sellers; ...

Apr 7th

“After the Fed intervened in September, it made attempts to...”
— Greg Gordon and Kevin G. Hall...

Apr 7th

“The IMF said in January that it expected the deterioration...”
— Gráinne Gilmore in Toxic debts...

Apr 7th

“I don’t expect the U.S. economy to recover in the...”
— George Soros, quoted by...

Apr 7th

“How can one crash that wipes out $10 trillion in assets...”
— Steven Gjerstad and Vernon L....

Apr 6th

“In the past two weeks, China signed multibillion-dollar...”
— Neel Chowdhury in China Takes...

Apr 6th

“The Government has started to get involved in discussions...”
— Roger Ehrenberg in Bailing out...

Apr 6th

“Why does the Obama administration refuse to hand the bill...”
— Henry Blodget in Obama’s...

Apr 6th

“U.S. congressional budget analysts have raised their...”
— Estimated U.S. taxpayer cost...

Apr 6th

“In a three-to-two vote Thursday, the Financial Accounting...”
— Marie Leone in Rule Change...

Apr 6th

“No one would have suggested extending Madoff investors a...”
— Rolfe Winkler in naked...

Apr 6th

“There was a time on Wall Street when insider trading was...”
— Tyler Durden in Zero Hedge:...

Apr 5th

“The research paper, Global Banking Rubble: Analyzing the...”
— Theresa Tedesco and John...

Apr 5th

“$2.26 billion were losses in credit derivative CDS. Why was...”
— Leo Kolivakis in Guest Post:...

Apr 4th

“It would mark a new level of absurdity if financial...”
— Spencer Bachus, the top...

Apr 4th

“There might also be an argument in favour of wealth...”
— A special report on the rich:...

Apr 4th

“There are now more prime loans than subprime loans seriously...”
— OCC: More Seriously Delinquent...

Apr 4th

“U.S. prosecutors announced the first criminal charges...”
— Martin Vaughan in U.S....

Apr 4th

“I don’t feel any responsibility at all . How can I be...”
— Maurice R. “Hank”...

Apr 4th

“Between 1947 and 1979 the top 0.1% of American earners were,...”
— A special report on the rich:...

Apr 3rd

“Julius Meinl V, chairman of an Austrian bank that bears his...”
— David Crawford in A Fraud...

Apr 3rd

“To be clear, mark to market accounting hasn’t caused this...”
— Dan Greenhaus in Mark-to-Make...

Apr 3rd

“In this case, AIG worked hand in hand with CELL personnel to...”
— Wayne M. Carlin, Regional...

Apr 2nd

“Changes to fair-value, or mark-to-market accounting,...”
— Ian Katz in FASB Eases...

Apr 2nd

“But for the bailout of AIG, you see, President Sarkozy would...”
— The Institutional Risk...

Apr 2nd

“We believe that the only sure foundation for sustainable...”
— Leaders of the Group of Twenty...

Apr 2nd

“Although the index registered its second consecutive monthly...”
— Hudson Riehle, senior vice...

Apr 1st

“According to the government, GM’s Rick Wagoner was...”
— Jay Leno, quoted by Mark J....

Apr 1st

“The financial oligarchy’s idea of “regulation” is to make...”
— Michael Hudson in Financing...

Apr 1st

“The worst case scenario is coming to pass. [The Pension...”
— Mark Ruloff, a fellow at the...

Apr 1st

“Manufacturing, which accounts for about 40 percent of...”
— Joe Mcdonald in Survey finds...

Apr 1st