Reckless people have deluded themselves that this was a subprime crisis. But we have problems with credit-card debt, student-loan debt, auto loans, commercial real estate loans, home-equity loans, corporate debt and loans that financed leveraged buyouts... We have a subprime financial system, not a subprime mortgage market.
Nouriel RoubiniRelated topics
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An oil crisis looms, prices are spiking - and our president is extolling algae. After Solyndra, Keystone and promises of seaweed in their gas tanks, Americans sense a president so ideologically antipathetic to fossil fuels - which we possess in staggering abundance - that he is utterly unserious about the real world of oil in which the rest of us live.
Charles Krauthammer
The real truth of the matter is, as you and I know, that a financial element in the larger centers has owned the Government ever since the days of Andrew Jackson - and I am not wholly excepting the Administration of W. W. The country is going through a repetition of Jackson's fight with the Bank of the United States - only on a far bigger and broader basis.
Franklin D. Roosevelt
If exclusive privileges were not granted, and if the financial system would not tend to concentrate wealth, there would be few great fortunes and no quick wealth. When the means of growing rich is divided between a greater number of citizens, wealth will also be more evenly distributed; extreme poverty and extreme wealth would be also rare.
Denis Diderot
The great virtue of a free market system is that it does not care what color people are; it does not care what their religion is; it only cares whether they can produce something you want to buy. It is the most effective system we have discovered to enable people who hate one another to deal with one another and help one another.
Milton Friedman
We cannot live without trade. A society can neither advance nor improve without excess of disposable income. This excess can only be amassed through the production of goods and services necessary or attractive to the mass. A financial system which allows this leads to inequality; one that does not leads to mass starvation.
David Mamet