Defaults Quotes & Sayings

There's not a doubt in my mind that you will see a spate of municipal-bond defaults. — Meredith Whitney

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

A shocking ultimatum is issued; choose the victim or it defaults to someone you hold dear. And she has just minutes to decide. As each crime becomes more brutal, she is forced to play devil's advocate as she chooses the next target.
WITNESS — Caroline Mitchell

I'm afraid sometimes certain individual cases of defaults are unavoidable. What we should do is to step up monitoring, properly handle relevant matters, and ensure there is no regional and systemic financial risk. — Li Keqiang

Because we cannot see the roads we have not taken, we become, by defaults, advocates for the path our life is on. — Ethan Watters

You want to evaluate future borrowers, but in order to train an algorithm that will help you identify future defaults, you have to train it and evaluate it on past data. — Anthony Goldbloom

One of the big problems in America's economic polarization and shrinkage is that pensions can't be paid. So there are going to be defaults on pensions here, just like Europeans are insisting in rolling back pensions. You can look at Greece and Argentina as the future of America. — Michael Hudson

In the days when money was backed by its face value in silver or gold, there were limits to how much wealth could flow around the world. Today, it's virtual money that the bank lends into existence on a computer screen. "And unless the economy continually expands, there is no new flow of money to pay back that money, plus interest." ... "As it stands now, if banks start loaning money more slowly than they collect debts, the quantity of money in the economy goes down, and it's impossible to pay back debts. So we get defaults on houses ... our economy plunges into misery and unemployment. Under our current monetary system, the only alternative to that is endless growth. So one absolute thing we have to change is the whole nature of the monetary system ... we deny banks the right to create money." ... There's a challenge with that solution, he admits. "You're trying to take the right to create wealth away from some of the wealthiest people on the planet. — Alan Weisman

Newspapers play up as sensational every attempt by a Negro to rape a white woman. Yet this white rape of Negro women is apparently a different matter. But it is rape nonetheless, and practiced on a scale that dwarfs the Negro's defaults. The — John Howard Griffin

Technology companies must constantly weigh ethical decisions: Where should Facebook set its privacy defaults, and should it tolerate glimpses of nudity? Should Twitter close accounts that seem sympathetic to terrorists? How should Google handle sex and violence, or defamatory articles? — Nicholas Kristof

Making people laugh is so much more difficult than making them sad. Too much fiction defaults to the somber, the tragic. This is because sad endings are easy in comparison - happy endings aren't at all simple to earn, especially when writing to an audience jaded by them. — Stephen Graham Jones

Sometimes the world is better off if one always defaults to option number two. — Anne Mallory

Positive defaults align our short-term decisions with our long-term interests. And we don't always do that. — Tom Rath

Rather, risk is a perception in each investor's mind that results from analysis of the probability and amount of potential loss from an investment. If an exploratory oil well proves to be a dry hole, it is called risky. If a bond defaults or a stock plunges in price, they are called risky. But if the well is a gusher, the bond matures on schedule, and the stock rallies strongly, can we say they weren't risky when the investment after it is concluded than was known when it was made. — Seth Klarman

Oil now, as a result of the Saudi production, is priced so low that there are not going to be new fracking investments made. A lot of companies that have gone into fracking are heavily debt-leveraged, and are beginning to default on their loans. The next wave of defaults that banks are talking about is probably going to be in the fracking industry. When the costs of production are so much more than they can end up getting for the oil, they just stop producing and stop paying their loans. — Michael Hudson

Finally, Cinder gulped. "I'm sorry I had to
" She gestured at the unconscious wedding coordinator, then waved her hand like shaking it off. "But she'll be fine, I swear. Maybe a little nauseous when she comes to, but otherwise ... And your android ... Nainsi, right? I had to disable her. And her backup processor. But any mechanic can return her to defaults in about six seconds, so ... " She rubbed anxiously at her wrist. "Oh, and we ran into your captain of the guard in the hallway, and a few other guards, and I may have scared him and he's, um, unconscious. Also. But, really, they'll all be fine. I swear." Her lips twitched into a brief, nervous smile. "Um ... hello, again. By the way. — Marissa Meyer

If one could not remember somebody's trousers, then jeans were the safe default. Indeed, "defaults" was a good name for jeans. I put on my defaults. It sounded quite right. — Alexander McCall Smith

Why do people always expect you to trust them? With all the shit that goes on in this world, I don't know why anyone expects my trust just because they are unverifiably, according to themselves, a nice guy. Who the hell defaults to trust? — Malka Older

The customer service agents who accepted the defaults of Internet Explorer and Safari approached their job the same way. They stayed on script in sales calls and followed standard operating procedures for handling customer complaints. They saw their job descriptions as fixed, so when they were unhappy with their work, they started missing days, and eventually just quit. The employees who took the initiative to change their browsers to Firefox or Chrome approached their jobs differently. They looked for novel ways of selling to customers and addressing their concerns. When — Adam M. Grant

Positive defaults protect you from yourself - and that helps you to make decisions in the moment that are better for your long-term interests. — Tom Rath

There is a new wave of interest in exploring how to frame choices so that people make better decisions. Richard Thaler and Cass Sunstein, professors of economics and law, respectively, teamed up to write Nudge: Improving Decisions About Health, Wealth, and Happiness, which advocates using defaults to nudge us to make better choices.9 Even when we are choosing in our own interests, we often choose unwisely. When employees have the option of participating in a retirement-savings scheme, many do not, despite the financial advantages of doing so. If their employer instead automatically enrolls them, giving them the choice of opting out, participation jumps dramatically — Peter Singer

Heaven never defaults. The wicked are sure of their wages, sooner or later. — Edwin Hubbel Chapin

Our primary defaults are exhaustion and guilt. Meanwhile, we have beautiful lives begging to be really lived, really enjoyed, really applauded — Jen Hatmaker

After the risky mortgage-lending practices fostered by government intervention led to massive defaults and foreclosures that caused financial institutions to collapse or be bailed out, Congressman Frank changed his tune completely. — Thomas Sowell

For example, Shawn Cole, a professor at Harvard Business School, finds that Indian state-owned banks increase their lending to the politically important but relatively poor constituency of farmers by about 5 to 10 percentage points in election years.51 The effect is most pronounced in districts with close elections. The consequences of the lending are greater loan defaults and no measurable increase in agricultural output, which suggest that it really serves as a costly form of income redistribution. — Raghuram G. Rajan

The myth is that if housing prices go up, Americans will be richer. What banks - and behind them, the Federal Reserve - really want is for new buyers to be able to borrow enough money to buy the houses from mortgage defaulters, and thus save the banks from suffering from more mortgage defaults. — Michael Hudson

When we become curious about the dissatisfying defaults in our world, we begin to recognize that most of them have social origins: Rules and systems were created by people. And that awareness gives us the courage to contemplate how we can change them. Before — Adam M. Grant

The Illuminati bankers rule the world through debt, which is money they create out of nothing. They need world government to ensure no country defaults or tries to overthrow them. As long as private bankers, instead of governments, create money the human race is doomed. These bankers and their allies have bought everything and everyone. — Henry Makow

The same with the mortgage brokers that were selling people mortgages they couldn't afford. We shouldn't pay them on each mortgage they write. They should have what they call "skin in the game," where they've got to reimburse us if the guy who sold the mortgage defaults. — Richard Thaler

In this couple defects were multiplied, as if by a dangerous doubling; weakness fed upon itself without a counterstrength and they were trapped, defaults, mutually committed, left holes everywhere in their lives. When you read their letters to each other it is often necessary to consult the signature in order to be sure which one has done the writing. Their tone about themselves, their mood, is the fatal one of nostalgia
a passive, consuming, repetitive poetry. Sometimes one feels even its most felicitious and melodious moments are fixed, rigid in experession, and that their feelings have gradually merged with their manner, fallen under the domination of style. Even in their suffering, so deep and beyond relief, their tonal memory controls the words, shaping them into the Fitzgerald tune, always so regretful, regressive, and touched with a careful felicity. — Elizabeth Hardwick

Fur is my default, my indulgence. All human beings and myself have a lot of defaults. Many indulgences. — Catherine Malandrino

If you don't decide what your life is about, it defaults to what you spend your days doing. — Robert Breault

I'm especially baffled by the idea of taking insurance against a U.S. default. If America defaults, we're talking about a chaotic world - Mad Max, more or less - in which case, who imagines that insurance claims will be honored? — Paul Krugman