Financial Sector Quotes & Sayings

History proves ... that a smart central bank can protect the economy and the financial sector from the nastier side effects of a stock market collapse. — Ben Bernanke

I think there's no question but what the tail end of the Bush administration, Bush-Cheney administration, that we took steps specifically geared to try and free up the financial sector. — Dick Cheney

We are all used to paying a sales tax when we buy things - almost 9 percent here in New York City. The application of this concept to the financial sector could solve our need for revenue, bring some sanity back into the financial sector, and give us a way to raise the revenue we need to run the government in a fiscally responsible way. — Eliot Spitzer

The multiple failings of our flawed financial sector are jeopardizing, not only the retirement security of our nation's savers but the economy in which our entire society participates. — John C. Bogle

The inevitable consequence is that the wealthy become dominant. The wealthy set their own pay or the company boards pay very generously. Each company board, in hiring a new CEO, feels it must pay as much or more than the competitive companies pay their CEO, rather than using the firm's earnings or share price or some other yardstick. In many sectors, especially in the financial sector, there is more collusion than real competition. The wealthy see their pay as describing their worth, and they rely on their wealth and political influence to defeat democratic measures to contain or tax them sufficiently. Democracy is therefore in danger of being destroyed by capitalism. Unless there is higher taxation on wealth and more regulation to promote real competition, democracy is subverted.8 — Philip Kotler

I grew up in Monaco, and in that environment going into the financial sector was the obvious choice. — Herve Falciani

F the government is going to put money into the automobile sector, it should break up GM and Chrysler as a condition of financial aid, and it should be even-handed in its treatment of start-up firms like Tesla, Miles, Fisker, and others. It would be terrible to kill the entrepreneurs who have taken great risks to bring new automotive technologies to market by pumping tax dollars into the behemoths that have done everything wrong for the last years. — Denis Hayes

In a move that will remain in Irish annals as a stigma comparable to the potato famine, the Dublin government succumbed to ECB blackmail: make the German creditors of Ireland's commercial banks whole, even a bank that was closed down and thus no longer systemically important for Ireland's financial sector, or else. — Yanis Varoufakis

That's the problem with the financial sector. Banks and the financial sector live in the short run, not the long run. In principle the government is supposed to make regulations that help the economy over time. But once it's taken over by the financial sector, the government lives in the short run too. — Michael Hudson

I could hear a gaggle of Americans, couples, laughing, saying their loud goodbyes as they parted for their respective rooms: old college friends, jobs in the financial sector, five-plus years of corporate law and Fiona entering the first grade in the fall, all's well in Oaklandia, well goodnight then, God we love you guys, a life I might have had myself except I didn't want it. — Donna Tartt

It is clear to me that the financial sector, including CNBC, loves central banks — Marc Faber

Establishing a 0.03 percent Wall Street speculation fee, similar to what we had from 1914-1966, would dampen the dangerous level of speculation and gambling on Wall Street, encourage the financial sector to invest in the productive economy and reduce the deficit by more than $350 billion over 10 years. — Bernie Sanders

The legislation, essentially bipartisan, drives new fiscal policies, tax changes, also rules of corporate governance, and deregulation. Alongside of this began the very sharp rise in the costs of elections, which drives the political parties even deeper than before into the pockets of the corporate sector. The parties dissolved, essentially, in many ways. It used to be that if a person in Congress hoped for a position such as a committee chair or some position of responsibility, he or she got it mainly through seniority and service. Within a couple of years, they started having to put money into the party coffers in order to get ahead, a topic studied mainly by Tom Ferguson. That just drove the whole system even deeper into the pockets of the corporate sector, increasingly the financial sector. — Noam Chomsky

I ran for Congress not because I was having a mid-life crisis. I left the private sector because I saw a looming financial crisis that was coming to this country. It's unsustainable. — Steve Daines

In the financial sector, those whom the gods want to destroy they first teach math. — Niall Ferguson

Taking away the risk from the financial sector and taking it on to the public shoulders is not the right approach. — Jeroen Dijsselbloem

The words consent of the governed have become an empty phrase. Our textbooks on political science and economics are obsolete. Our nation has been hijacked by oligarchs, corporations, and a narrow, selfish, political, and economic elite, a small and privileged group that governs, and often steals, on behalf of moneyed interests. This elite, in the name of patriotism and democracy, in the name of all the values that were once part of the American system and defined the Protestant work ethic, has systematically destroyed our manufacturing sector, looted the treasury, corrupted our democracy, and trashed the financial system. During this plundering we remained passive, mesmerized by the enticing shadows on the wall, assured our tickets to success, prosperity, and happiness were waiting around the corner. — Chris Hedges

So the Bush-Obama administration has taken a fiscal stance diametrically opposed to that of the patron saint of free enterprise. While escalating war in Afghanistan and maintaining over 850 military bases around the world, the administration has run up the national debt that Smith decried. By shifting the tax burden off property and off rent-seeking monopolies - above all, off the financial sector - this policy has raised America's cost of living and doing business, thereby undercutting its competitive power and running up larger and larger foreign debt. — Michael Hudson

Gender-dominated environments are not good ... particularly in the financial sector where there are too few women. In gender-dominated environments, men have a tendency to ... show how hairy chested they are, compared with the man who's sitting next to them. I honestly think that there should never be too much testosterone in one room. — Christine Lagarde

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 population is angry, frustrated, bitter - and for good reasons. For the past generation, policies have been initiated that have led to an extremely sharp concentration of wealth in a tiny sector of the population. In fact, the wealth distribution is very heavily weighted by, literally, the top tenth of one percent of the population, a fraction so small that they're not even picked up on the census. You have to do statistical analysis just to detect them. And they have benefited enormously. This is mostly from the financial sector - hedge fund managers, CEOs of financial corporations, and so on. — Noam Chomsky

One of the lessons that I hope people will take out is the extreme dependence simply on the financial sector is really dangerous. — Juan Enriquez

Bill Clinton's political formula for seizing the presidency was simple. He made money tight in the ghettos and let it flow free on Wall Street. He showered the projects with cops and bean counters and pulled the cops off the beat in the financial services sector. And in one place he created vast new mountain ranges of paperwork, while in another, paperwork simply vanished. — Matt Taibbi

A number of bloggers in economics and the financial sector have risen to prominence through the sheer strength of their work. Note it was not their family connections nor ties to Ivy League schools or elite banks, but rather the strength of their research, analysis and writing. — Barry Ritholtz

Well-functioning financial systems are important in achieving sustained economic growth. They play a crucial role in channeling household savings into the corporate sector and allocating investment funds among firms. — Toshihiko Fukui

We are all socialists now, it seems. John McCain, David Cameron and Gordon Brown attack bankers' irresponsible behaviour and salaries, and call for state intervention in the financial markets. But these calls will not get them elected or re-elected if they are addressed only to the banking sector. — Noreena Hertz

The Harper Government is committed to ensuring that seniors have the skills they need to make solid financial choices. Seniors today face an increasingly complex financial marketplace, and it will take the combined efforts of public and private sector organizations to help seniors navigate the many financial choices they face. The start of Financial Literacy Month is an excellent opportunity to thank the Canadian Bankers Association and encourage other private sector organizations to take an active role in providing financial literacy support to Canada's seniors. — Kevin Sorenson

The United States lived on borrowed money for too long, inflating its financial sector unnecessarily and neglecting its small and mid-sized industrial companies. — Wolfgang Schauble

From the 1990s onward, the financial sector created a vast array of instruments designed to separate investors from their money, financial derivatives of an ever-increasing level of complexity. At some point, this complexity reached a point where even the creators of the derivatives themselves didn't understand them. — John L. Casti

When large companies take on risk, then they impose risks on the rest of the system. And these are systemic risks and these systemic risks we never used to think were really that important, but as soon as we recognize how the financial sector - the risks the financial sector takes on can impact the entire global economy, we realize that those risks needed to be controlled for the social good. — Robert F. Engle

My view is the core engine supporting India's growth aspiration will be the financial sector, which will have to get more efficient. — Uday Kotak

Oh, and 13.1 million American people had their homes foreclosed. Because their debt, it turns out, was real; it was only the debt within the financial sector that was imaginary. It was only the people who generated the crisis who got three magical wishes from an economic genie. There was no abracadabra for ordinary people; they just got abraca-fucked. — Russell Brand

People like Mike McConnell don't really move from public office to the private sector and back again; that implies more separation than actually exists. Rather, the U.S. government and industry interests essentially form one gigantic, amalgamated, inseparable entity - with a public division and a private one. When someone like McConnell goes from a top private sector position to a top government post in the same field, it's more like an intracorporate reassignment than it is like changing employers. When McConnell serves as DNI he's simply in one division of this entity, and when he's at Booz Allen he is in another. It's precisely the same way that Goldman Sachs officials endlessly move in and out of the Treasury Department and other government positions with financial authority, or the way that health care and oil executives move in and out of government agencies charged with regulating those fields. In — Glenn Greenwald

Thus far, both political parties have been remarkably clever and effective in concealing this new reality. In fact, the two parties have formed an innovative kind of cartel - an arrangement I have termed America's political duopoly. Both parties lie about the fact that they have each sold out to the financial sector and the wealthy. So far both have largely gotten away with the lie, helped in part by the enormous amount of money now spent on deceptive, manipulative political advertising. — Charles Ferguson

The major media companies are significantly reducing their financial commitment to the motion picture sector. — Peter Bart

If our financial industry regarded security the way the health-care sector does, I would stuff my cash in a mattress under my bed. — Avi Rubin

The difference between both is that social entrepreneurship has a much more financial transparency. There is no financial viability and that is where a corporate sector makes a difference because we maintain a balance between both the financial status and the social service. — Ramon Magsaysay

There was, of course, a global financial crisis. But our Labour predecessors left Britain exceptionally vulnerable and damaged: more personal debt than any other major economy; a dangerously inflated property bubble; and a bloated banking sector behaving as masters, not the servants of the people. — Vince Cable

To prosper and advance, the American business sector is going to need a financial system oriented toward business, not 'home ownership.' — Edmund Phelps

After all, Wall Street is clearly the most powerful lobbying force on Capitol Hill. From 1998 through 2008, the financial sector spent over $5 billion in lobbying and campaign contributions to deregulate Wall Street. — Bernie Sanders

Part of Obamacare eliminated the private sector financial market that engages in giving college student loans. I mean, now the federal government has taken over college student loans, so I sit back and strategically look at this and say this just cannot be happening. — Allen West

Economic management involves the operation of economic frameworks in real time - for example, in the private sector, the management of complex financial institutions or, in the public sector, the day-to-day supervision of those institutions. — Ben Bernanke

The global financial system consists of firms in the financial services sector - banks, hedge funds, insurance companies and the like - and various governmental agencies who are charged with regulating these firms. — John L. Casti