Richard Thaler Quotes

Banks are so protected from liability they would have to really do something that was their mistake in order for them to be liable for it. Banks don't look at signatures. They're processing millions of checks and they have very little liability.

You would notice if your own personal debit card limit shot up to $40 million dollars. And you'd probably call somebody.

A consumer-finance agency is a good thing, but it would do well to teach consumers a simple lesson: if you don't understand the deal you're making, don't make it.

My audience loves seeing me pump large amounts of money into action and sets. And it works. I'm not saying that films made within a budget are wrong. But when audiences come to see my film with their families, I guess they are spending at least 10 per cent of their monthly income. I don't want to cheat them.

I think there's a culture in Rajasthan Royals that has been there before I got here, so I've come into it. I've enjoyed being part of it and embraced it. They are quite clear about the fact that bottom lines are important, and there is a certain limit on what you can spend.

Consumers get used to reading and understanding their credit card contracts, their mortgages, their check overdraft agreements, those are good things. That puts power back in the hands of consumers.

Let's hold insurance companies accountable the right way by making them put their whole customer base on the line.

Make the financial industry pay for its mistakes. That's the idea behind the best of the Obama administration's reform proposals: If banks issue securities backed by mortgages, say, then require them to hold some of that paper so that they will bear some of the losses.

I have very often held a view - and I am public about it - that if you run your operations inefficiently, you can't expect your consumer to pay for your inefficiencies.

If you really think about the fabric of the United States, or the finance of any economy, finance is a true underpinning of what makes the economy great - if it can be done successfully, responsibly, and with a client orientation.

Our business is to have great credit and to use it little.

You must be sure - and I mean absolutely positive - that you have the willpower to pay off those credit cards and not use them again.

One thing that Americans do at this time also, though, is let's commit ourselves, just everyday American people Joe Six-Pack, hockey moms across the nation I think we need to band together and say, never again. Never will we exploited and taken advantage of again by those who are managing our money and loaning us these dollars.

Most children's first words are 'Mama' or 'Daddy.' Mine were, 'Do I have to use my own money?'

Do I have to use my own money?

Use money and love people. Don't love money and use people.

One of the very difficult parts of the decision I made on the financial crisis was to use hardworking people's money to help prevent there to be a crisis.

It has to be simple, but then you deliver them a principle: The simple truth is, as a matter of principle, we cannot spend more than we take in. Something - that changes the tone of the debate.

Money is meant not for hoarding, but for using; the aim of life should be to use it in the right way - to spend as much as we can lawfully spend, both upon ourselves and others. And sometimes it is better to do this in our lifetime, when we can see that it is well spent, than to leave it to the chance spending of those that come after us.

The Bible teaches that we are to love people and use money, but we often get that reversed and you start loving money and using people to get more money. Money is simply a tool to be used for good.

If we can't respect the way we earn it, money has no value. If we can't use it to make life better for our families and loved ones, money has no purpose.

We need fair rules of the road, so big corporations can't use their power to gain unfair advantages.

The same with the mortgage brokers that were selling people mortgages they couldn't afford. We shouldn't pay them on each mortgage they write. They should have what they call "skin in the game," where they've got to reimburse us if the guy who sold the mortgage defaults.

It really is understanding how to use money, and not let money use you.

It's better to spend money like there's no tomorrow than to spend tonight like there's no money.