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Larry Summers

"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."

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"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."

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Explore more quotes by Larry Summers

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Larry Summers
"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."
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Larry Summers
"You can't have a situation in which companies proceed on a permanent basis relying only on cash from the government."
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Larry Summers
"It says something about this new global economy that USA Today now reports every morning on the day's events in Asian markets."
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Larry Summers
"The United States basically accepted protection abroad as the price of post-war recovery. Now, that these countries have caught up to our level of prosperity, it is time for them to catch up to our level of openness."
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Larry Summers
"In politics, as in poetry, it is sometimes true that it is darkest before dawn."
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Larry Summers
"Start with the idea that you can't repeal the laws of economics. Even if they are inconvenient."
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Larry Summers
"It used to be said that when the U.S. sneezed, the world caught a cold. The opposite is equally true today."
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Larry Summers
"Now is the time for us to strike. We must strengthen our foothold in Asia, to ensure no nation overtakes us."
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Larry Summers
"Blaming speculators as a response to financial crisis goes back at least to the Greeks. It's almost always the wrong response."
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Larry Summers
"Global capital markets pose the same kinds of problems that jet planes do. They are faster, more comfortable, and they get you where you are going better. But the crashes are much more spectacular."
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