Financial Innovation Quotes & Sayings

The drums have hogged a lot of the credit. We're as much
or more
*cymbal* players, as we are drummers. — Peter Erskine

The tearoom lady called me love. All the shop ladies called me love and most of the men called me mate. I hadn't been here twelve hours and already they loved me. — Bill Bryson

The field of financial innovation, without rules that tie it to human productive output will be the cause of the next revolution. — Said Elias Dawlabani

It is time to put in place tough, new common-sense rules of the road so that our financial market rewards drive and innovation, and punishes short-cuts and abuse. — Barack Obama

Behind our gun position we dug a depression that a couple of guys could lay in. That depression would fill with water, and at nighttime, when you wanted to take a nap, two guys would crawl in that water and their bodies would keep it warm. There was a drawback to that because your skin would all shrink up. SID — Adam Makos

Financial innovation can be highly dangerous, though almost no one will tell you this. New financial products are typically created for sunny days and are almost never stress-tested for stormy weather. Securitization is an area that almost perfectly fits this description; markets for securitized assets such as subprime mortgages completely collapsed in 2008 and have not fully recovered. Ironically, the government is eager to restore the securitization markets back to their pre-collapse stature. — Seth Klarman

Allow yourself the freedom to step away from perfection because it is only then that you can find success. — Chase Jarvis

Innovation requires resources to invest, and you can see many companies pulling back and going into an intense protective mode in a major extended period of financial distress. — Peter Senge

have sufficiently urged that all suggestions as to financial innovation be regarded with extreme skepticism. Such seeming innovation is merely some variant on an old design, new only in the brief and defective memory of the financial world. — John Kenneth Galbraith

Back in the 1980s, the original stated purpose of the mortgage-backed bond had been to redistribute the risk associated with home mortgage lending. Home mortgage loans could find their way to the bond market investors willing to pay the most for them. The interest rate paid by the homeowner would thus fall. The goal of the innovation, in short, was to make the financial markets more efficient. Now, somehow, the same innovative spirit was being put to the opposite purpose: to hide the risk by complicating it. The market was paying Goldman Sachs bond traders to make the market less efficient. — Michael Lewis

I wish someone would give me one shred of neutral evidence that financial innovation has led to economic growth - one shred of evidence. — Paul Volcker

We need to find a way to safeguard humanity whilst still offering short-term financial incentives. For sure, we need innovators in finance more than we need innovation in technology. — David W. Wood

In sum, economists (and those who listened to them) became overconfident in their preferred models of the moment: markets are efficient, financial innovation improves the risk-return trade-off, self-regulation works best, and government intervention is ineffective and harmful. They forgot about the other models. There was too much Fama, too little Shiller. The economics of the profession may have been fine, but evidently there was trouble with its psychology and sociology. — Dani Rodrik

Your ability to rationalize your own bad deeds makes you believe that the whole world is as amoral as you are. — Douglas Coupland

Sustainability is today's freedom crusade, because the next generation will not live free - will not have the freedom to pursue its economic dreams or to delight in all that nature has to offer - if our approach to the financial world and the natural are not grounded in sustainable values. That lack of sustainability will constrict everything in our lives. It will limit everything we might want to do. Unless we become less dependent on hydrocarbons, and unless we find a balance between the need for markets to be free enough to reward innovation and risk-taking but not so free as to reward recklessness that can destabilize the whole global economy, our lives will be reduced, redacted, and restricted. We will be overwhelmed by all the toxic assets we will produce in the Market and in Mother Nature. It will feel worse than had the Soviet Union won the Cold War, because we and our children will be enslaved by our financial debts and constricted by our ecological debts. — Thomas L. Friedman

I didn't watch cartoons, I was too busy playing football. — Alan Shearer

America's peak years of indigenous innovation ran from the 1820s to the 1960s. There were a few financial panics and two depressions, to be sure. But in this period, a frenzy of creative activity, economic competition and rapid growth in national income provided widening economic inclusion, rising wages for all, and engaging careers for most. — Edmund Phelps

The genius of capitalism lies in its ability to make self-interest serve the wider interest. The potential of a big financial return for innovation unleashes a broad set of talented people in pursuit of many different discoveries. This system, driven by self-interest, is responsible for the incredible innovations that have improved so many lives. — Bill Gates

Look at the product pipeline, look at the fantastic financial results we've had for the last five years. You only get that kind of performance on the innovation side, on the financial side, if you're really listening and reacting to the best ideas of the people we have. — Steve Ballmer

Ou just get stoned, get the ideas in your head and then do 'em. And don't bullshit. I mean that's the thing about doin' that guerrilla theatre. You be prepared to die to prove your point. — Abbie Hoffman

America is the greatest engine of innovation that has ever existed, and it can't be duplicated anytime soon, because it is the product of a multitude of factors: extreme freedom of thought, an emphasis on independent thinking, a steady immigration of new minds, a risk-taking culture with no stigma attached to trying and failing, a noncorrupt bureaucracy, and financial markets and a venture capital system that are unrivaled at taking new ideas and turning them into global products. — Thomas L. Friedman

If one sentence were to sum up the mechanism driving the Great Stagnation, it is this: Recent and current innovation is more geared to private goods than to public goods. That simple observation ties together the three major macroeconomic events of our time: growing income inequality, stagnant median income, and the financial crisis. — Tyler Cowen

This crisis exposed very significant problems in the financial systems of the United States and some other major economies. Innovation got too far out in front of the knowledge of risk. — Timothy Geithner

It is the satisfaction of doing it for yourself and motivating others to work with you in bringing it about. It is about the fun, innovation, creativity with the rewards being far greater than purely financial. — Richard Branson

Financial operations do not lend themselves to innovation. What is recurrently so described and celebrated is, without exception, a small variation on an established design ... The world of finance hails the invention of the wheel over and over again, often in a slightly more unstable version. — John Kenneth Galbraith

The strategic stimulus to economic development in Schumpeter's analysis is innovation, defined as the commercial or industrial application of something new
a new product, process or method of production, a new market or source of supply, a new form of commercial, business or financial organization. — Joseph A. Schumpeter

One would be forgiven for concluding that the assumed benefits of financial innovation are not all they were cracked up to be. — Ben Bernanke

Everything has changed. Because one upon a time I was just a child. Today I'm still a child, but this time I've got an iron will and 2 fists made of steel and I've aged 50 years. Now I finally have a clue. I've finally figured out that I'm strong enough, that maybe I'm a touch brave enough, that maybe this time I can do what I was meant to do. — Tahereh Mafi

When your focus is social change and not financial change, why wouldn't you want to share that openly? Innovation only succeeds when it's shared. — Cameron Sinclair

Intuit's mission, values, and culture of innovation set us apart as a great place to work. Our 8,000 employees are innovators and entrepreneurs that are inspired by the important work they do that is delighting customers and improving the financial lives of millions of people. — Brad D. Smith

You'll regret opening your mouth. You'll rarely regret keeping it shut. — Max Lucado

Inappropriate macro economic policies in some economies, characterised by [a] low savings rate and high consumption [and] failure of financial supervision and regulation to keep up with innovation which allowed financial derivatives to spread. — Wen Jiabao