#financial system

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

#economies #exposed #far #financial #financial systems

The rest of the world needs the US economy and financial system to recover in order for it to revive. We remain at the center of global economic activity with financial and trade ties to every region of the globe. ↗

— Timothy Geithner

#center #economic #economic activity #economy #every

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

#allocating #among #channeling #corporate #crucial

We judged that a sudden, disorderly failure of Bear would have brought with it unpredictable but severe consequences for the functioning of the broader financial system and the broader economy, with lower equity prices, further downward pressure on home values, and less access to credit for companies and households. ↗

— Timothy Geithner

#bear #broader #brought #companies #consequences

Looking past the immediate crisis, a more resilient system must be built on stronger and better designed shock absorbers, both in the major institutions and in the infrastructure of the financial system. ↗

— Timothy Geithner

#both #built #crisis #designed #financial

In the financial system we have today, with less risk concentrated in banks, the probability of systemic financial crises may be lower than in traditional bank-centered financial systems. ↗

— Timothy Geithner

#concentrated #crises #financial #financial crises #financial system

We have got to change our ethics and our financial system and our whole way of understanding the world. It has to be a world in which people live rather than die; a sustainable world. It could be great. ↗

— Vivienne Westwood

#could #die #ethics #financial #financial system

The welfare state is collapsing all around us. There are people that realize that we can't go on this way, but I'm not sure how many people realize how close we are to the collapse of the U.S. financial system. ↗

— Rush Limbaugh

#close #collapse #collapsing #financial #financial system

We are inheriting the worst financial system since the Depression. We're inheriting a situation - when people go back and study major banking crises a quarter century from now, the one that America developed in 2007 and 2008 is going to be one of those crises. ↗

— Lawrence Summers

#back #banking #century #crises #depression

If you don't have a functioning financial system the world economy won't be revived. All the major economies have their responsibility to assist at a pace which is required to clean up the balance sheet of the banking system and to ensure that credit flows are resumed. ↗

— Manmohan Singh

#balance #banking #banking system #clean #clean up