Street One Financial Quotes & Sayings

I called for a consumer protection financial bureau before it was created. And I think the best evidence that the Wall Street people at least know where I stand and where I have always stood is because they are trying to beat me in this primary. — Hillary Clinton

Once again, the puppets on Capitol Hill are about to slam the Muppets on Main Street. The country still hasn't recovered from the Wall Street-induced financial cataclysm of 2008, yet Congress is preparing to enact the Orwellian 'JOBS Act' - a bill that should in fact be called the 'Return Fraud to Wall Street in One Easy Step Act.' — Eliot Spitzer

Asking Wall Street to provide financial education is the same as asking a fox to raise your chickens. — Robert Kiyosaki

If you don't have regular and accurate financial statements, you're driving your business 100 miles an hour down a one-way street the wrong way, at night, in the fog, without lights. — Jim Blasingame

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

The model used by Wall Street to price trillions of dollar's worth of derivatives thought of the financial world as an orderly, continuous process. But the world was not continuous; it changed discontinuously, and often by accident. — Michael Lewis

In early October 2008, after the U.S. government had stepped in to say it would, in effect, absorb all the losses in the financial system and prevent any big Wall Street firm from failing, Burry had started to buy stocks with enthusiasm, for the first time in years. — Michael Lewis

No one pushed harder than Congressman Barney Frank to force banks and other financial institutions to reduce their mortgage lending standards, in order to meet government-set goals for more home ownership. Those lower mortgage lending standards are at the heart of the increased riskiness of the mortgage market and of the collapse of Wall Street securities based on those risky mortgages. — Thomas Sowell

I felt that he was a captive of financial and sentimental commitments, like every other man I know, and that he was no more free to fall in love with a strange woman he saw on a street corner than he was to take a walking trip through French Guiana or to recommence his life in Chicago under an assumed name. — John Cheever

The techniques that were used in the 1930s to reset the economy will simply not work today. Gordon L. Eade — Kenneth Eade

I believe that the banks and the financial services industry take more than their fair share of our profits by using unfair business tactics. It now appears that our entire financial system has taken far more risk than is warranted by its capital structure and that this will lead to a market crash affecting economies worldwide. Gordon L. Eade — Kenneth Eade

You know what happens at any magic show? When the magician says 'look here, look here,' the audience looks only there and nowhere else. And that's exactly what happened at the earnings conference today. — Ali Sheikh

Wall Street is littered with clever plans to use financial instruments to change behavior - carbon trading, for example. Some have changed the world, and others failed miserably. — Andrew Ross Sorkin

I remain fundamentally optimistic about
Wall Street as a marketplace and as a vehicle for wealth creation. Its
future will rightly depend on several variables, chief among them
being human choices; whether they be rationally, emotionally, subjectively
or objectively made. Financial engineering taught us that if
it could be quantified, it could be qualified. We learned about how
to use leverage and have abused that knowledge for a myriad of
reasons. We became practitioners of the transaction-based model, but forgot that long before the abacus there was trust and integrity,
anchors of relationship-based models common with Middle East and
Asian markets. It goes back to a handshake, the first and enduring
example of mutual consensus. — Ziad K. Abdelnour

Was greed that broke Wall Street, not the lack of financial algorithms. — Joan D. Chittister

The underlying strategy of the Fed is to tell people, "Do you want your money to lose value in the bank, or do you want to put it in the stock market?" They're trying to push money into the stock market, into hedge funds, to temporarily bid up prices. Then, all of a sudden, the Fed can raise interest rates, let the stock market prices collapse and the people will lose even more in the stock market than they would have by the negative interest rates in the bank. So it's a pro-Wall Street financial engineering gimmick. — Michael Hudson

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

The people in a position to resolve the financial crisis were, of course, the very same people who had failed to foresee it: Treasury Secretary Henry Paulson, future Treasury Secretary Timothy Geithner, Fed Chairman Ben Bernanke, Goldman Sachs CEO Lloyd Blankfein, Morgan Stanley CEO John Mack, Citigroup CEO Vikram Pandit, and so on. A few Wall Street CEOs had been fired for their roles in the subprime mortgage catastrophe, but most remained in their jobs, and they, of all people, became important characters operating behind the closed doors, trying to figure out what to do next. With them were a handful of government officials - the same government officials who should have known a lot more about what Wall Street firms were doing, back when they were doing it. All shared a distinction: They had proven far less capable of grasping basic truths in the heart of the U.S. financial system than a one-eyed money manager with Asperger's syndrome. — Michael Lewis

A remarkable consensus of Democratic and Republican editorial writers held that Roosevelt would be as "conservative" as McKinley. The very unanimity of this opinion seemed contrived, as if to soothe a nervous stock market. The financial pages reported that "Severe Shocks," "Feverish Trading," and "Heavy Declines" had hit Wall Street on Friday, when the Gold Dollar President began to die. Roosevelt knew little about money - it was one of the few subjects that bored him - but even he could see that one false move this weekend might bring about a real panic on Monday. — Edmund Morris

To get our economy back on track and keep it functioning properly without the problems of our financial institutions, we need reasonable regulations that will protect Main Street while at the same time allow Wall Street to do what it does best - make money for American investors. — Marsha Blackburn

Cause of the financial crisis was "simple. Greed on both sides - greed of investors and the greed of the bankers." I thought it was more complicated. Greed on Wall Street was a given - almost an obligation. The problem was the system of incentives that channeled the greed. The line between gambling and investing is artificial and thin. — Michael Lewis

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

I supported Barack Obama originally. I supported him for reelection and the alternative of a Mitt Romney is very, very clear to everybody. And I think the president has done a good job in a number of areas. But one area that has concerned me from day one has been his reliance on Wall Street type people in terms of financial matters. — Bernie Sanders

Accountability for the largest financial institutions on Wall Street is the bedrock for a strong economy. Hard-working families and honest businesses cannot survive in a world where the rules don't keep the marketplace honest. — Elizabeth Warren

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 loss of public confidence in the financial community growing out of its own conduct in recent years. I insist that more damage has been done to stock values and to the future of equities from inside Wall Street than from outside Wall Street. — Benjamin Graham

Wall Street got drunk and now it's got a hangover. And the question is, how long will it sober up and not try to do those fancy financial instruments? — George W. Bush

Listen, girlie," said one of the executives of Cadillac, a particularly troubled company, to Maryann Keller, an astute and skeptical financial analyst on Wall Street, "it's ready to turn around, and it's going to be bigger than ever. — David Halberstam

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

If you look at mainstream economics there are three things you will not find in a mainstream economic model - Banks, Debt, and Money.
How anybody can think they can analyze capital while leaving out Banks, Debt, and Money is a bit to me like an ornithologist trying to work out how a bird flies whilst ignoring that the bird has wings ... — Steve Keen

Joseph Cassano of AIG Financial Products - known as "Mr. Credit-Default Swap" - led a unit that required a $99 billion bailout while simultaneously distributing $1.5 billion in year-end bonuses to his employees - including $34 million to himself. Robert Rubin of Citibank received a $10 million bonus in 2008 while serving on the board of directors of a company that required $63 billion in federal funds to keep from failing. Lower down the pay scale, more than 5,000 Wall Street traders received bonuses of $1 million or more despite working for nine of the financial firms that received the most bailout money from the US goverment. Neither — Sebastian Junger

How could Digital's collapse be so precipitous? It's because, in many ways, financial performance data is misleading. As you move up to the top of the market, you're getting rid of the less profitable products at the low end and adding business with more attractive margins at the high end. The rate of unit volume growth might be tapering off as you pursue these smaller markets, but your margins actually look better. So Wall Street rewards your stock price until you hit the ceiling. — Clayton Christensen

Imagine the big rating agencies as three competitive saloons standing side by side, with each free to set its own drinking age. Before long, nine-year-olds would be downing bourbon — Roger Lowenstein

On Wall Street, financial crisis destroys jobs. Here in Washington, it creates them. The rest is just details. — Timothy Noah

There are some who think that the government is limited in how many corruption cases it can bring against Wall Street, because juries can't understand the complexity of the financial schemes involved. But in 'U.S.A. v. Carollo,' that turned out not to be true. — Matt Taibbi

We have seen the results of unrestrained greed, corruption, and manipulation on Wall Street, financial mismanagement in the halls of government, fraud and perversion at the highest levels of both church and state. Many people sense the possibility of an even greater unraveling in the world. We are constantly confronted by the realities of new problems in this age of crisis. — Billy Graham

He has a really consistent routine. He comes in in the morning at around 8:30. He reads five newspapers. He reads The Financial Times, The Washington Post, The New York Times, The Wall Street Journal, and The Omaha World Herald. Then he has a stack of reports on his desk from the companies Berkshire owns, and some trade press like American Banker or oil and gas journals, and through the rest of the day, he alternates between flipping through this stuff and then talking on the phone to people either who call him or who he calls. He never calls his managers; they can call him. He is really accessible, but he leaves them alone.
Then he has CNBC on all day long with the crawl, with the sound muted and if he sees his name cross along the bottom and they are talking about him, he will turn the sound on to find out what they are saying. That is his day. He doesn't do meetings
there are no meetings.
— Alice Schroeder

I think the money for the solutions for global poverty is on Wall Street. Wall Street allocates capital. And we need to get capital to the ideas that are successful, whether it's microfinance, whether it's through financial literacy programs, Wall Street can be the engine that makes capital get to the people who need it. — Kabir Sehgal

The whole financial structure of Wall Street seems to rise or fall on the mere fact that the Federal Reserve Bank raises or lowers the amount of interest. Any business that can't survive a one percent change must be skating on thin ice.
Why even the poor farmer took a raise of another ten percent just to get a loan from the bank, and nobody from the government paid any attention. But you let Wall Street have a nightmare and the whole country has to help to get them back into bed again. — Will Rogers

Not one Wall Street executive has been charged with crimes since the 2008 financial crash. — Haskell Wexler

I'll bet you didn't think a handful of economists could save the world, did you? You thought the world would end with nuclear war or something? No, it's much more basic than that. It's more likely going to be from a disruption in the water supply, power, and from lack of food due to an economic collapse. Either that or a financial war. — Kenneth Eade

Logic is the subject that has helped me most in picking stocks, if only because it taught me to identify the peculiar illogic of Wall Street. Actually Wall Street thinks just as the Greeks did. The early Greeks used to sit around for days and debate how many teeth a horse has. They thought they could figure it out just by sitting there, instead of checking the horse. A lot of investors sit around and debate whether a stock is going up, as if the financial muse will give them the answer, instead of checking the company. — Peter Lynch

The Mexican debt crisis, Latin American debt crisis, the crises of the 1990s, the Wall Street stock market crash, and other events should have reminded us, and did remind us, that financial instability remains a concern, remains a problem. — Ben Bernanke

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 auction houses seemed not as dull as their financial counterparts on Wall Street, where parents of daughters imagined glass celings and bottom patting. — Steve Martin

I agree that there are some bad apples on Wall Street. I spent about ten years exposing corporate and financial fraud for 'Barron's' magazine and I found a lot to write about. — Ben Stein

The minute a Wall Street firm purchases your debt, your bank no longer has it on its financial statement, which then allows the bank to look for more credit card customers. That's one reason why you get so many credit card offers. — Robert Kiyosaki

Wall Street billionaires are predicting that Roosevelt-style railroad rate regulation will sooner or later bring about financial catastrophe. [ca. 1906] — Edmund Morris

One peek inside his top drawer had been enough for Sophie. Swimming goggles, nail clippers, a Ferragamo tie wound into a tight coil, and packets of Gulden's Spicy Brown Mustard. None of that compared to Ira Blumenstein's gold tooth, Kenneth Yang's Darth Vader lollipop, or Rich Angstrom's Magic 8 Ball. — Laura Hemphill

The new social question is: democracy or the rule of the financial markets. We are currently witnessing the end of an era. The neoliberal ideology has failed worldwide. The U.S. movement Occupy Wall Street is a good example of this. — Sigmar Gabriel

While the financial crisis destroyed careers and reputations, and left many more bruised and battered, it also left the survivors with a genuine sense of invulnerability at having made it back from the brink. Still missing in the current environment is a genuine sense of humility. — Andrew Ross Sorkin

It is also painful to see that the struggle against hunger and malnutrition is hindered by market priorities, the primacy of profit, which have reduced foodstuffs to a commodity like any other, subject to speculation, also of a financial nature, The hungry remain, at the street corner, and ask to be recognized as citizens, to receive a healthy diet. We ask for dignity, not for charity. — Pope Francis

The widely mis-interpreted 1998 'meltdown' of East Asia was a financial symptom of the renewed reality: In fact, it was the first round the world recession again to begin in East Asia and spread from there to the West, instead of vice versa. That marked the beginnings of the return back 360 degrees around the world of the world economic center to Asia where it had always been before those two eighty-year period of temporary Western ascendance. The stock market crash in Hong Kong and the devaluation of the Thai baht and the Indonesian rupia took only 80 seconds to make themselves felt in the London City and on New York's Wall Street. How much of a cultural lag do we still need for popular perception and social theory to catch up with global reality? — Andre Gunder Frank

'Nobody goes to jail.' This is the mantra of the financial-crisis era, one that saw virtually every major bank and financial company on Wall Street embroiled in obscene criminal scandals that impoverished millions and collectively destroyed hundreds of billions, in fact, trillions of dollars of the world's wealth - and nobody went to jail. — Matt Taibbi

Food Stamp recipients didn't cause the financial crisis; recklessness on Wall Street did. — Barack Obama

The old Wall Street adage "never invest in anything that eats or needs repairs" may apply to racehorses, but it's malarkey when it comes to houses. — Peter Lynch

The Dodd Bill does very little to reduce financial risks. What it will do is make Wall Street even more the servant of bureaucrats in Washington and the political party in power. That is not in the best interests of the American people. — Marsha Blackburn

Even in such a time of madness as the late twenties, a great many man in Wall Street remained quite sane. But they also remained very quiet. The sense of responsibility in the financial community for the community as a whole is not small. It is nearly nil. Perhaps this is inherent. In a community where the primary concern is making money, one of the necessary rules is to live and let live. To speak out against madness may be to ruin those who have succumbed to it. So the wise in Wall Street are nearly always silent. The foolish thus have the field to themselves. None rebukes them. — John Kenneth Galbraith

In the two decades after I left, I waited for the end of Wall Street as I had known it. The outrageous bonuses, the endless parade of rogue traders, the scandal that sank Drexel Burnham, the scandal that destroyed John Gutfreund and finished off Salomon Brothers, the crisis following the collapse of my old boss John Meriwether's Long-Term Capital Management, the Internet bubble: Over and over again, the financial system was, in some narrow way, discredited. Yet the big Wall Street banks at the center of it just kept on growing, along with the sums of money that they doled out to twenty-six-year-olds to perform tasks of no obvious social utility. The rebellion by American youth against the money culture never happened. Why bother to overturn your parents' world when you can buy it and sell off the pieces? — Michael Lewis

They had stumbled either upon a serious flaw in modern financial markets or into a great gambling run. Characteristically, they were not sure which it was. As Charlie pointed out, It's really hard to know when you're lucky and when you're smart. — Michael Lewis

The Catholic church, once all her assets have been put together, is the most formidable stockbroker in the world. The Vatican, independently of each successive pope, has been increasingly orientated towards the U.S. The Wall Street Journal said that the Vatican's financial deals in the U.S. alone were so big that very often it sold or bought gold in lots of a million or more dollars at one time. — Avro Manhattan

There is a tendency in part of Wall Street people to pay excessive attention to the most recent figures and the present financial picture. — Benjamin Graham

The door opened. A guy came in. Busy, bustling, sixty-something, medium size, a gray suit, a tight waistband, a warm and friendly face. Pink and round. Lots of energy, and the start of a smile. A guy who got things done, with a lot of charm. Like a salesman. Something complicated. Like a financial instrument, or a Rolls-Royce automobile. "I'm sorry," the guy said. To Sinclair only. "I didn't know you had company." American. An old-time Yankee accent. No one spoke. Then Sinclair said, "Excuse me. Sergeant Frances Neagley and Major Jack Reacher, U.S. Army, meet Mr. Rob Bishop, CIA head of station at the Hamburg consulate." "I just did a drive-by," Bishop said. "On the parallel street. The kid's bedroom. The lamp has moved in the window. — Lee Child

Millionaires don't use Astrology, billionaires do. — J. P. Morgan