Quotes & Sayings About 2008 Financial Crisis

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

September and October of 2008 was the worst financial crisis in global history, including the Great Depression, — Ben Bernanke

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

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

Not at Lehman Brothers, which collapsed in 2008, and not on Wall Street; Greece was where the fire broke out. One heard the word contamination again and again, but this time it was no imperial cultural contamination, no creeping process of civilization. This time the crisis was a contagion: debts and obligations that would never be repaid, a gradual deterioration of the financial immune system. — Jason Wilson

In 2008, when the global financial crisis struck, it was a bad year for a lot of developing countries, and it manifested itself in consumer confidence. — Adi Godrej

The 2008 financial crisis and the Great Recession that followed have had devastating effects on the U.S. economy and millions of American lives. But the U.S. economy will emerge from its trauma stronger and widely restructured. — Roger Altman

Millions of Americans were duped by the federal government and the Federal Reserve into buying homes they could not afford and failed to count the cost. When the financial crisis of 2008 hit, they could not keep up the monthly mortgage payments and defaulted. — Mark Skousen

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. — Ha-Joon Chang

Did my education fail me? Or, even worse, did I fail my education? There's a larger question to be asked here, too, since I'm also a microcosm of my peer group. Why did so many highly educated people from elite business schools and privileged background contribute to and exacerbate the financial crisis of 2008-2009? Did our education fail us? Or did we fail our education? These questions haven't been answered adequately by the prestigious universities that groomed all these high-powered creators of economic mayhem. — Guy Spier

The United States is much further along because its financial crisis struck three years before Europe's, in 2008, causing headwinds that have pressured it ever since. — Roger Altman

I got plenty of guesses wrong on things in the past as well. I don't want to pretend I have some great insight ... But when the global financial crisis came along in 2008 it was scary times if you were in the middle of building $5 billion buildings. It wasn't perfect ... I think that I am the luckiest person in Australia. — James Packer

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

Combining valuable insights from his experience in China, his time as the World Bank's chief economist, and the 2008 financial crisis, Justin Yifu Lin's recommendations for development policy reflect an impressive and unique personal journey. — Kemal Dervis

Capitalism has become systemically risky when a single financial algorithm like the one that David X. Li created brought the entire global economic system close to collapse in 2008. — Said Elias Dawlabani

Vladimir Putin shot out of obscurity in 1999 by exploiting growing nostalgia for the USSR, fueled by the disappointment, uncertainty and crisis that brought Yeltsin's reform era to a shuddering halt. Once in power the following year, Putin set about building an authoritarian regime whose control would expand for more than a decade, until soaring corruption on top of another economic downturn - a much smaller one, triggered by the global financial crisis of 2008 - prompted another backlash. — Gregory Feifer

American business would be run better today if there was more alignment between CEOs' interest and the company. For example, would the financial crisis of 2008 have occurred if the CEO of Lehman and Morgan Stanley and Goldman and Citibank had to take a very small percentage of every mortgage-backed security ... or every loan they made? — Aubrey McClendon

The Global Financial Crisis (2008-?); it is not a matter of noblesse oblige as of vitesse oblige. — Kristian Goldmund Aumann

It is no exaggeration to say that since the 1980s, much of the global financial sector has become criminalised, creating an industry culture that tolerates or even encourages systematic fraud. The behaviour that caused the mortgage bubble and financial crisis of 2008 was a natural outcome and continuation of this pattern, rather than some kind of economic accident. — Charles Ferguson

The genuine object of debate raised by the [2008 financial] crisis ought to be how to overcome the short-termism to which we have been led by a consumerism intrinsically destructive of all genuine investment in the future, a short-termism which has systematically, and not accidentally, been translated into decomposition of investment into speculation. — Bernard Stiegler

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

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

Ever since the 2008 global financial crisis, central banks had ventured, not by choice but by necessity, ever deeper into the unfamiliar and tricky terrain of "unconventional monetary policies." They floored interest rates, heavily intervened in the functioning of markets, and pursued large-scale programs that outcompeted one another in purchasing securities in the marketplace; to top it all off, they aggressively sought to manipulate investor expectations and portfolio decisions. — Mohamed A El-Erian

In response to the drop in wealth suffered as a consequence of the 2008 financial crisis, homeowners and firms did attempt to increase savings in financial assets by reducing expenditure on durables. — Dale T. Mortensen

ECONOMIC IMPACT - The United States buys almost three quarters of a trillion dollars ($738,000,000,000.00) more from overseas suppliers than it sells in exports (balance of trade deficit). Overall, the US buys about $ 2.5 trillion dollars in goods and services produced by the other nations of the world every year. With the United States gone as the world's economic engine, the remaining nations of the world will, in varying degrees, immediately suffer from staggering financial depression. The financial credit crisis that started in mid-September, 2008 in the United States, soon reverberated in stock markets across the world. — John Price

The warning signs had been there since the crash of 2008, but after the initial shock, nothing had been done to correct the problem. Banks had been trading over $7 trillion in risky derivatives daily, as well as fixing interest rates and making bets on the rigged games. There was an ever-growing gap between the elite and all the rest of the people which had continued to develop even after the 2008 crash. — Kenneth Eade

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. — Gary Weiss

Soon after the financial crisis of 2008, I was at a meeting in Washington with a group of U.S. senators. They had invited me to provide a point of view on new regulation; regulation aimed at ensuring we never have to go through the events of 2008 ever again. — Bob Diamond

During the financial crisis and bailouts of 2008, it probably occurred to very few average people that we were entering a period of hardship for billionaires. — Thomas Frank