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"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."
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"The only gift to yourself is your ability to seek knowledge."
Author Name
Personal Development
"Ignorance is the darkest depths."
Author Name
Personal Development
"Every book has to wait for the right time to be read and understood."
Author Name
Personal Development
"Devote yourself to reading of Scriptures."
Author Name
Personal Development
"There is only a perspective seeing, only a perspective "knowing"; and the more affects we allow to speak about one thing, the more eyes, different eyes, we can use to observe one thing, the more complete will our "concept" of this thing, our "objectivity," be."
Author Name
Personal Development
"Life is all about discovery."
Author Name
Personal Development
"Knowledge is invariably a matter of degree: you cannot put your finger upon even the simplest datum and say this we know."
Author Name
Personal Development
"Science is a proven concept with standards. Wisdom is the knowledge of life that we learn by living it."
Author Name
Personal Development
"If we knew what is already there, there will be no need for research."
Author Name
Personal Development
"Dare to ask questions. This is the only way to find answers to your curiosity."
Author Name
Personal Development
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"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."
Home
"Never before in modern times has so much of the world been simultaneously hit by a confluence of economic and financial turmoil such as we are now living through."
Finance
"The choice is between which mistake is easier to correct: underdoing it or overdoing it."
Mistake
"Although this crisis in some ways started in the United States, it is a global crisis. We bear a substantial share of the responsibility for what has happened, but factors that made the crisis so acute and so difficult to contain lie in a broader set of global forces that built up in the years before the start of our current troubles."
Lie
"Some think that by preparing to deal with crises you make them more likely. I think the wiser judgment is the contrary. In this area at least, if you want peace or stability, it's better to prepare for war or instability."
Peace
"Financial crises require governments."
Finance
"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."
Knowledge
"It is very important for people to understand that the United States of America and no country around the world can devalue its way to prosperity, to be competitive. It is not a viable, feasible strategy, and we will not engage in it."
People
"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."
Finance
"The substantial uncertainty about the path of asset price movements going forward necessarily reduces the case for altering policy in advance of the move."
Policy
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