Bankruptcy Quotes & Sayings

Greed is the fast-track to poverty. — Craig D. Lounsbrough

The necessity of every one paying in his own labor for what he consumes, affords the only legitimate and effectual check to excessive luxury, which has so often ruined individuals, states and empires; and which has now brought almost universal bankruptcy upon us. — Josiah Warren

To run away from danger, instead of facing it, is to deny one's faith in man and God, even one's own self. It were better for one to drown oneself than live to declare such bankruptcy of faith. — Mahatma Gandhi

If we didn't have greed, market economies wouldn't be as innovative as they are. But in my view, greed has to be contained by the fear of losses, so there has to be a system where, if you take too much risk, you go into bankruptcy. You don't systematically bail out people who take excessive risks. — Nouriel Roubini

Moreover, an archetype exists in the nation's consciousness that connects student loan debt with irresponsibility. This is a result of well-publicized accounts of loan defaults in decades past in which students took out loans with no intention of ever paying them back and simply filed for bankruptcy after graduation. This perception was sufficiently strong that in the 1970s, Congress was convinced to remove bankruptcy protections from student loans. However, according to a March 2007 paper by John A. E. Pottow of the University of Michigan, this perception had a fatal flaw: "The fatal problem is that there are no empirical data to buttress the myth that students defraud creditors any more than other debtors."1 In fact, it was shown that when student loans were dischargeable in bankruptcy, there was a less than 1 percent bankruptcy rate among student debtors.2 Nevertheless, this misconception has been so often repeated that it is now indelibly etched in the public's mind. — Alan Collinge

For the personality, bankruptcy or failure may be a disaster. For the soul, it may be grist for its strangely joyful mill, and a condition it has been secretly engineering for years. — David Whyte

Many small businesses are doomed from day one, not from competition or the economy, but from the ignorance of their owners ... their destiny is already decided because they have no idea how a business should be operated. — William Manchee

Even if the government spends itself into bankruptcy and the economy still does not recover, Keynesians can always say that it would have worked if only the government had spent more. — Thomas Sowell

The heritage of the American Revolution is forgotten, and the American government, for better and for worse, has entered into theheritage of Europe as though it were its patrimony
unaware, alas, of the fact that Europe's declining power was preceded and accompanied by political bankruptcy, the bankruptcy of the nation-state and its concept of sovereignty. — Hannah Arendt

Lastly, there is bankruptcy, as the United States pours its economic resources into ever more grandiose military projects and shortchanges the education, health, and safety of its citizens. — Chalmers Johnson

If a company can declare bankruptcy, why can't a country do so? — Pope Francis

This was my world: a world of truly irrational behavior. We spend our way into the poorhouse. We buy giant TVs and iPads. Our children wear nice clothes thanks to high-interest credit cards and payday loans. We purchase homes we don't need, refinance them for more spending money, and declare bankruptcy, often leaving them full of garbage in our wake. Thrift is inimical to our being. We spend to pretend that we're upper class. And when the dust clears - when bankruptcy hits or a family member bails us out of our stupidity - there's nothing left over. Nothing for the kids' college tuition, no investment to grow our wealth, no rainy-day fund if someone loses her job. We know we shouldn't spend like this. Sometimes we beat ourselves up over it, but we do it anyway. — J.D. Vance

We hated not knowing something. We hated not knowing who was going to walk Spanish down the hall. How would our bills get paid? And where would we find new work? We knew the power of the credit card companies and the collection agencies and the consequences of bankruptcy. Those institutions were without appeal. They put your name into a system, and from that point forward, vital parts of the American dream were foreclosed upon. A backyard swimming pool. A long weekend in Vegas. A low-end BMW. These were not Jeffersonian ideals, perhaps, on par with life and liberty, but at this advanced stage, with the West won and the Cold War over, they, too, seemed among our inalienable rights. — Joshua Ferris

Respondents had been so overwhelmed by their in-box they'd declared e-mail bankruptcy. — Susan Maushart

In my very first term there was an issue that brought us [George Mitchell, Ted Kennedy, Chris Dodd] together in a very deep, emotional, and personal level.It was called 'spousal impoverishment' and it meant that for one person [to go into] a nursing home, the family [ ], could go near bankruptcy, and then they'd end up with a lien on the family farm or the home. And so I wanted to change that. — Barbara Mikulski

A year earlier, no company had been accorded more faith than Enron; by late November, none was trusted less. And so, a gasping gurgle, a desperate SOS: Enron, the emblem of free markets, the champion of deregulation, reached into its depleted treasury and forked over $100,000 to each of the major political parties' campaign war chests. Then, it shuttered its online trading unit - its erstwhile gem. On November 28, Standard & Poor's downgraded Enron to junk-bond level - which triggered provisions in Enron's debt requiring it to immediately repay billions of its obligations. This it could not do. Its stock was seventy cents and falling, and, now, no gatekeepers and no credit remained. Accordingly, in the first week of December, Enron, the archetype of shareholder value, availed itself of the time-honored protection for those who have lost their credit: bankruptcy. — Roger Lowenstein

Government should stand behind its currency and credit and the bank deposits of the nation. No individual should suffer a loss of money through depreciation or inflated currency of Bank bankruptcy. — Abraham Lincoln

Helen opened her eyes and gazed into the luminous blue of the sky. Was it crazy, she wondered, to be as grateful as she felt now, for moments like this, in a world that had atomic bombs in it - and concentration camps, and gas chambers? People were still tearing each other into pieces. There was still murder, starvation, unrest, in Poland, Palestine, India - God knew where else. Britain itself was sliding into bankruptcy and decay. Was it a kind of idiocy or selfishness, to want to be able to give yourself over to the trifles: to the parp of the Regent's Park Band; to the sun on your face, the prickle of grass beneath your heels, the movement of cloudy beer in your veins, the secret closeness of your lover? Or were those trifles all you had? Oughtn't you, precisely, to preserve them? To make little crystal drops of them, that you could keep, like charms on a bracelet, to tell against danger when next it came? — Sarah Waters

Some made the long drop from the apartment or the office window; some took it quietly in two-car garages with the motor running; some used the native tradition of the Colt or Smith and Wesson; those well-constructed implements that end insomnia, terminate remorse, cure cancer, avoid bankruptcy, and blast an exit from intolerable positions by the pressure of a finger; those admirable American instruments so easily carried, so sure of effect, so well designed to end the American dream when it becomes a nightmare, their only drawback the mess they leave for relatives to clean up. — Ernest Hemingway,

What I call bankruptcy of inventiveness is often the result of a failure to set aside the resources necessary to let invention happen. The principal resource needed for invention is slack. When companies can't invent, it's usually because their people are too damn busy. — Tom DeMarco

Our schools should get five years to get back to where they were in 1963. If they're still bad maybe we should declare educational bankruptcy, give the people their money and let them educate themselves and start their own schools. — William Bennett

I know that my buddy Jorgeson was a real American hero. I wish that he had lived to be something else, if not a painter of pictures then even some kind of fuckup with a factory job and four divorces, bankruptcy petitions, in and out of jail. I wish he had been that. I wish he had been anything rather than a real American hero. — Thom Jones

If India is not to declare spiritual bankruptcy, religious instruction of its youth must be held to be at least as necessary as secular instruction. — Mahatma Gandhi

But credit card debt is unsecured debt, which means if you get in trouble and cannot pay off your credit card, you can discharge it in bankruptcy. What are they going do to you? If you're in a financial position to just methodically pay off both credit card and student loans, pay them all. — Suze Orman

Fools gain greater advantages through their weakness than intelligent men through their strength. We watch a great man struggling against fate and we do not lift a finger to help him. But we patronize a grocer who is headed for bankruptcy. — Honore De Balzac

However, the economics of our business continued to deteriorate. We barely escaped bankruptcy a year ago, and in the aftermath of that escape we had to make some even tougher decisions. — Gerard Arpey

It is generally accepted that divine service affords a legitimate opportunity for the congregation to assess not only the appearance, deportment, elegance and possible wealth of new arrivals to the parish, but the demeanour of any of their neighbours known to be in an interesting situation, ranging from pregnancy to bankruptcy. — P.D. James

Climate change has a very high procrastination penalty that just grows with each passing year of inaction - rather like what happens if you don't pay off your credit card. But for climate, there is no such thing as a fresh start from bankruptcy. — William H. Calvin

Unqualified activity, of whatever kind, leads at last to bankruptcy. — Johann Wolfgang Von Goethe

An Atheist, is nothing but a bankrupt Anarchist. — Ibrahim Ibrahim

The state incurs debts for politics, war, and other higher causes and 'progress' ... The assumption is that the future will honour this relationship in perpetuity. The state has learned from the merchants and industrialists how to exploit credit; it defies the nation ever to let it go into bankruptcy. Alongside all swindlers the state now stands there as swindler-in-chief. — Jacob Burckhardt

Bankruptcy as a solution in kind of un-American. — Thomas W. Horton

Nevada was hit hardest by the recession - highest unemployment, highest foreclosure rate, highest bankruptcy rate. — Brian Sandoval

The company, Tiffany Studios, ended up in bankruptcy in 1930 - early '30s. — Susan Vreeland

Even if you feel like your debt is just never going to go away, think long and hard before declaring bankruptcy. Declaring bankruptcy means that getting a loan for anything will be next to impossible for the next 10 years. — Alexa Von Tobel

Greece bankruptcy will trigger a market crash. My advice: Buy Bitcoin & Gold, Both will rise when the markets crash — Kim Dotcom

Al Gore may think Medicare is at a crossroads, but his plan puts it on a highway to bankruptcy. — Dan Bartlett

The president, the secretary of state, the businessman, the preacher, the vendor, the spies, the clients and managers - all walking around Wall Street like chickens with their heads cut off - rushing to escape bankruptcy - plotting to melt down the Statue of Liberty - to press more copper pennies - to breed more headless chickens - to put more feathers in their caps - medals, diplomas, stock certificates, honorary doctorates - eggs and eggs of headless chickens - multitaskers - system hackers - who never know where they're heading
northward, backward, eastward, forward, and never homeward - (where is home) - home is in the head - (but the head is cut off) - and the nest is full of banking forms and Easter eggs with coins inside. Beheaded chickens, how do you breed chickens with their heads cut off? By teaching them how to bankrupt creativity. — Giannina Braschi

When there were fears about the future of this nation's older cities ... when a few of the cities teetered on the brink of bankruptcy, all eyes were focused on Chicago for contrast. — Jane Byrne

Personal savings accounts to me are one of the most powerful things, not necessarily in saving, solvency, or bankruptcy of the program, but in guaranteeing, the words I used a few minutes ago, a safe and secure retirement for our seniors. — Bill Frist

This filing spike is a result of bad information being pushed on people, and then they file for bankruptcy out of fear. — Steve Bartlett

In the court of the movie Owner, none criticized, none doubted. And none dared speak of art. In the Owner's mind art was a synonym for bankruptcy. The movie Owners are the only troupe in the history of entertainment that has never been seduced by the adventure of the entertainment world. — Ben Hecht

On the other hand it is probably safe to assume that Rembrandt and Spinoza surely would have at least passed on the street, now and again.
Or even run into each other quite frequently, if only at some neighborhood shop or other.
And certainly they would have exchanged amenities as well, after a time.
Good morning, Rembrandt. Good morning to you, Spinoza.
I was extremely sorry to hear about your bankruptcy, Rembrandt. I was extremely sorry to hear about your excommunication, Spinoza.
Do have a good day, Rembrandt. Do have the same, Spinoza.
All of this would have been said in Dutch, incidentally.
I mention that simply because it is known that Rembrandt did not speak any other language except Dutch.
Even if Spinoza may have preferred Latin. Or Jewish. — David Markson

The years thunder by.
The dreams of youth grow dim
where they lie
caked in dust on the shelves of patience.
Before we know it, the tomb is sealed.
Where, then lies the answer?
In choice.
Which shall it be:
Bankruptcy of Purse
or Bankruptcy of Life? — Sterling Hayden

We have a duty to ensure that patients don't have to worry whether they'll be dropped from their coverage if they get sick. Small business owners shouldn't have to break the bank to provide coverage to their employees. And families should not be forced into bankruptcy because of a medical crisis. — Jeff Merkley

Bankruptcy and repudiation are the springboards from which much of our civilization vaults and turns its somersets, but the savagestands on the unelastic plank of famine. — Henry David Thoreau

They said it was impossible to touch the third rail of politics, to take on public-sector unions and to reform a pension and health benefits system that was headed to bankruptcy. But with bipartisan leadership, we saved taxpayers $132 billion dollars over 30 years and saved retirees their pensions. We did it. — Chris Christie

Trump Entertainment Resorts declared Chapter 11 bankruptcy. Or as Donald Trump describes Chapter 11, "Back-to-back number ones!" — Conan O'Brien

A bankruptcy judge can fix your balance sheet, but he cannot fix your company. — Gordon Bethune

The company later went broke, and of course all blame was directed at the lawyers. Not once did I hear any talk that maybe a trace of mismanagement could in any way have contributed to the bankruptcy. — John Grisham

Drink has shed more blood, hung more crepe, sold more homes, plunged more people into bankruptcy, armed more villains, slain more children, snapped more wedding rings, defiled more innocence, blinded more eyes, dethroned more reason, wrecked more manhood, dishonored more womanhood, broken more hearts, blasted more lives, driven more to suicide and dug more graves than any other evil that has cursed the world. — Evangeline Booth

The Original Sin which brought us to the brink of bankruptcy and dictatorship was the Federal Income Tax Amendment and its illegitimate child, Federal Aid. — Tom Anderson

The psychological attitudes which are indispensable in the American market place are disastrous to family life. Family life ... requires yieldingness, generosity, sympathy, altruism, tenderness-all the qualities, in fact, which lead straight to bankruptcy ... the American family is tragically out of gear with the profit structure which has mushroomed up around it. — Margaret Halsey

We are at a time when postmodernism defies certainty, truth, and meaning; when spiritualism dabbles in quantum theory; and when randomness has become the order of the day. Isn't it ironic that at the same time, the world is on the edge of financial bankruptcy because we have conducted our financial affairs in a random fashion, as if there are no absolutes? — Ravi Zacharias

It is understandable that the Fed injects cash to avoid the collapse of the stock market, but basically it is bad policy for monetary authorities to intervene to save speculators from bankruptcy. This is not their role. — Maurice Allais

Imminent GM bankruptcy was always fiction, created by Wall Street and the media. — Robert Lutz

War is a bankruptcy of policy — Hans Von Seeckt

In this book, the history of American religion is the history of human actions and human organizations, not the history of ideas (refined or otherwise). But this is not to say that we regard theology as unimportant. To the contrary, we shall argue repeatedly that religious organizations can thrive only to the extent that they have a theology that can comfort souls and motivate sacrifice. In a sense, then, we are urging an underlying model of religious history that is the exact opposite of one based on progress through theological refinement. We shall present compelling evidence that theological refinement is the kind of progress that results in organizational bankruptcy. — Roger Finke

You never cash out a 401(k) or IRA to pay off debt, unless it's to avoid a foreclosure or bankruptcy. — Dave Ramsey

It is said that the world is in a state of bankruptcy, that the world owes the world more than the world can pay. — Ralph Waldo Emerson

I was able to solve enough big problems along the way that the sheriff didn't come along and put the 'bankruptcy' sign up. — Fred DeLuca

I was so glad I did Beauty and the Beast. I always wanted to act, and if the bankruptcy thing hadn't happened, I wouldn't have started acting. — Toni Braxton

George W. Bush was a silver spoon dolt with no record to speak of other than bankruptcy and selling tropical plants, and we let him sail into the White House, but Barack talks about religious fundamentalism and guns being prevalent in poor areas, and we roast him for weeks? — Adam McKay

When your little child tells a lie, do not rush at him as though the world were about to go into bankruptcy. Be honest with him. A tyrant father will have liars for his children; do you know that? A lie is born of tyranny upon the one hand and weakness upon the other, and when you rush at a poor little boy with a club in your hand, of course he lies. — Robert Green Ingersoll

Greece's debts are all denominated in euros, but it isn't clear who holds how much of those debts. For that reason, the consequences of a national bankruptcy would be incalculable. Greece is just as systemically important as a major bank. — Wolfgang Schauble

It wasn't government that gave us nearly 50 million uninsured Americans and denials for pre-existing conditions. It wasn't government that gave us the yearly and lifetime caps on insurance coverage that have sent so many people into bankruptcy when they've faced a serious illness or accident. It wasn't government that gave us a system in which the gap between what we spend and what we get is so enormous. It was the free market. — Paul Waldman

In business, poor performance leads to bankruptcy or, at a minimum, a restructuring of the company. In American education, failure entitles the bankrupt system to even more taxpayer dollars. — Cal Thomas

The unquietest humour possesses all men; ferments, seeks issue, in pamphleteering, caricaturing, projecting, declaiming; vain jangling of thought, word and deed. It is Spiritual Bankruptcy, long tolerated; verging now towards Economical Bankruptcy, and become intolerable. For from the lowest dumb rank, the inevitable misery, as was predicted, has spread upwards. In every man is some obscure feeling that his position, oppressive or else oppressed, is a false one: all men, in one or the other acrid dialect, as assaulters or as defenders, must give vent to the unrest that is in them. Of such stuff national well-being, and the glory of rulers, is not made. — Thomas Carlyle

The center was not holding. It was a country of bankruptcy notices and public-auction announcements and commonplace reports of casual killings and misplaced children and abandoned homes and vandals who misplaced even the four-letter words they scrawled. It was a country in which families routinely disappeared, trailing bad checks and repossession papers. Adolescents drifted from city to torn city, sloughing off both the past and the future as snakes shed their skins, children who were never taught and would never now learn the games that had held the society together. People were missing. Children were missing. Parents were missing. Those left behind filed desultory missing- persons reports, then moved on themselves. — Joan Didion

We must have an economy that does not force the migrant worker's child to miss school in order to earn ... just so the family can eat. That is the moral bankruptcy that trickle-down economics is all about. — Barbara Jordan

The story of Detroit's bankruptcy was simple enough: Allow capitalism to grow the city, campaign against income inequality, tax the job creators until they flee, increase government spending in order to boost employment, promise generous pension plans to keep people voting for failure. Rinse, wash and repeat. — Ben Shapiro

Socialized medicine must fail for the same reasons all socialism must fail: it offers no system for rationally allocating resources, and instead promotes the overutilization of all resources, ending in bankruptcy. — Llewellyn Rockwell

That is what is wrong with the world at present. It scraps its obsolete steam engines and dynamos; but it won't scrap its old prejudices and its old moralities and its old religions and its old political constitutions. What's the result? In machinery it does very well; but in morals and religion and politics it is working at a loss that brings it nearer bankruptcy every year. — Anonymous

Medical debts are the number-one cause of bankruptcy in America. — Barbara Ehrenreich

Once you get to your forties or fifties in this society, very few people haven't had at least one body blow - financial, bankruptcy, divorce, relationship disaster, addiction, trouble with a child, trouble with a parent. Most people take some blow. — Marianne Williamson

When I came in, the city was on the edge of bankruptcy. I'm proud of what I did. I built the foundation that mayors after me built upon - particularly Bloomberg. But the foundation was essential because if it hadn't occurred, we would have been another Detroit. — Ed Koch

Bankruptcy is a sacred state, a condition beyond conditions, as theologians might say, and attempts to investigate it are necessarily obscene, like spiritualism. One knows only that he has passed into it and lives beyond us, in a condition not ours. — John Updike

The presently existing global financial and monetary system will disintegrate during the near term. The collapse might occur this spring, or summer, or next autumn; it could come next year; it will almost certainly occur during President William Clinton's first term in office; it will occur soon. That collapse into disintegration is inevitable, because it could not be stopped now by anything but the politically improbable decision by leading governments to put the relevant financial and monetary institutions into bankruptcy reorganization. — Lyndon LaRouche

If the Nation is living within its income, its credit is good. If, in some crises, it lives beyond its income for a year or two, it can usually borrow temporarily at reasonable rates. But if, like a spendthrift, it throws discretion to the winds, and is willing to make no sacrifice at all in spending; if it extends its taxing to the limit of the peoples power to pay and continues to pile up deficits, then it is on the road to bankruptcy. — Franklin D. Roosevelt

The people who are filing for bankruptcy in increasing numbers every year, it's not the poorest. It's not the people at the economic fringes. It's people who worked hard and played by the rules. — Elizabeth Warren

By the end of the 20th century, "liberals" had again discredited themselves, to the point where they went back to calling themselves "progressives" to escape their past, much as people do when they declare bankruptcy. — Thomas Sowell

Best hope for what, Catman? Death? Bankruptcy? You know, my life was going along ... well, rather crappily, to be honest, but at least no one was trying to kill me and no one was dying around me. Since I met you, my life has taken the high road to Shitsville, with no off-ramp in sight. (Susan) — Sherrilyn Kenyon

We have been in recess since July, and during that time there have been a fuel crisis, a Danish no vote, the collapse of the Euro and a war in the middle east, but what is our business tomorrow? The Insolvency Bill [Lords]. It ought be called the Bankruptcy Bill [Commons], because we play no role. — Tony Benn

I can't tell you how many home businesses are almost in bankruptcy court over a Yellow Pages ad only to find out that the Yellow Pages ad isn't where their market will look for them, and it cost more than they thought. — Dave Ramsey

A noted cancer specialist in Boston said he believed that if some simple and inexpensive replacement for Chemotherapy for the treatment of cancer were found tomorrow, all US medical schools would teeter on the verge of bankruptcy, so integral a part of their hospital revenues is oncology, the medical specialty of cancer treatment — Barry Lynes

Enron had already collapsed and filed for bankruptcy protection by the beginning of 2002. But despite complaints from short sellers that corporations had used accounting gimmickry to inflate their profits, many investors thought the crisis at Enron was an isolated case. — Alex Berenson

She told me of your two chief faults, your vanity, and your being, as she termed it, "all wrong about money". I have a distinct recollection of how I laughed. I had no idea that the first would bring me to prison, and the second to bankruptcy. — Oscar Wilde

His lack of education is more than compensated for by his keenly developed moral bankruptcy. — Woody Allen

An expenditure of words without income of ideas will lead to intellectual bankruptcy. — Ravi Zacharias

So that this thing that aired in 1963 would result a few years later in personal bankruptcy, would result in having people be on edge with me, wondering when I'm going to blow up. — Shelley Berman

This program that the Republican majority has taken us toward as a country is leading us to fiscal bankruptcy. — Chaka Fattah

In this most powerful nation in the world, lack of access to health care should not force local and state governments, companies and workers into bankruptcy, while causing unnecessary illness and hospitalization. — John Conyers

The entire exhibitions industry in the United States of America has filed for bankruptcy. — Jeffrey Katzenberg

Unemployment, foreclosures, bankruptcy - the cure is not more government spending, but helping businesses create jobs. — Brian Sandoval

I was brought in by the White House as GM's chairman in 2009, around the time of the bankruptcy, and became CEO later that year. As a company, we were grateful for the government's support. But as GM's financial health began to improve, I could detect no real sense of urgency, or even interest, on the part of the government to relinquish control. — Edward Whitacre Jr.

Moral improvement (or perfecting) require an evolution leading to a higher consciousness, which is the true torch of life; it is what we have failed too much to appreciate, and that which would be fatal to fail to appreciate any longer ("pluslongtemps", Fr.); For if we do not take it upon ourselves to remedy in time to the moral colapse (or bankruptcy) that already threaten, the whole civilisation will risks to disappear. — African Spir

I can tell you that when you're counting every penny, knowing that you are a single bad decision away from bankruptcy, you inevitably lose focus on what really matters for your business. — Maelle Gavet

Enron Field in Houston, the Trans World Dome in St. Louis and PSINet Stadium in Baltimore are just three of the modern-day coliseums named for companies that have found new homes in bankruptcy court. — Alex Berenson

The CEOs of every major Wall Street firm were also on the wrong end of the gamble. All of them, without exception, either ran their public corporations into bankruptcy or were saved from bankruptcy by the United States government. They all got rich, too. — Michael Lewis

Bankruptcy is like losing your virginity. It doesn't hurt the next time. — Clarissa Dickson Wright