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"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."
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"He became convinced that ordinary commercial financing could be done for a service charge plus an insurance fee amounting to much less that the current rates of interest charged by banks, whose rates were based on supply and demand, treating money as a commodity rather than as a sovereign state's means of exchange."
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Personal Development
"Thirty to 40 years ago, most financial decisions were fairly simple."
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Personal Development
"When you work hard in a job that suits your living standards, never greed for fortune because you will distract yourself from fulfilling other important priorities and participating in leisure activities in your current life. You will eventually gain the fortune if you set up a wise investment goal by having pride and confidence on your savings."
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Personal Development
"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."
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Personal Development
"Alimony is the curse of the writing class."
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Personal Development
"Any bull market covers a multitude of sins, so there may be all sorts of problems with the current system that we won't see until the bear market comes."
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Personal Development
"Many critics of the Palestinians, especially those in Congress, think the current calm is merely the eye of the storm. That's why the House of Representatives approved a foreign aid package last week that forbade the direct financial assistance to the Palestinian Authority ."
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Personal Development
"I wanted to make Jerusalem as feature film. But we couldn't finance it only through theatrical release, we couldn't get all the money we needed. We had to get some money from television. So we said, ok, let's do it both ways. So we did it in four parts."
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Personal Development
"Poor is the man who does not know his own intrinsic worth and tends to measure everything by relative value. A man of financial wealth who values himself by his financial net worth is poorer than a poor man who values himself by his intrinsic self worth."
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Personal Development
"Due to financial reasons, I dropped out of school after eight years of formal schooling."
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"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
"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
"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
"There is a basic lesson on financial crises that governments tend to wait too long, underestimate the risks, want to do too little. And it ultimately gets away from them, and they end up spending more money, causing much more damage to the economy."
Money
"Financial crises require governments."
Finance
"I personally believe that there's going to be a good case for the government preserving some type of guarantee to make sure that people have the ability to borrow to finance a house even in a very damaging recession. I think there's going to be a good case for that."
Finance
"As financial markets continue to broaden and deepen, the behavior of asset prices will play an important role in the formulation of monetary policy going forward, perhaps a more important role than in the past."
Policy
"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
"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
"This crisis is not simply a more severe version of the usual business cycle recession, the typical downturn in which economies ultimately adjust and stabilize."
Business
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