Nouriel Roubini Quotes

New Labour has created a society increasingly oppressed by the worry of personal debt.

In truth, in the fairy-tale version of bailing out Lehman, the next domino, A.I.G., would have fallen even harder. If the politics of bailing out Lehman were bad, the politics of bailing out A.I.G. would have been worse. And the systemic risk that a failure of A.I.G. posed was orders of magnitude greater than Lehman's collapse.

The assumption that Washington could and would resolve Lehman Brothers without a bankruptcy, as it had Bear Stearns, was the single biggest mistake in the series of mistakes in 2007 and 2008 that led to the financial panic and the ensuing epidemic of job losses.

The failure of Lehman may have allowed the government to do more to prop up the economy than it otherwise could.

The stress on the financial system in the fall of 2007 was significant, but not so significant as to threaten the overall stability of the U.S. economy, although it did lead to the beginning of a recession at the end of 2007.

No one should go into debt if a family member gets sick or injured.

Financial crises are like fireworks: they illuminate the sky even as they go pop.

I listened to the students on campus in Plymouth, worried about their steadily deepening debts and how on earth they would ever escape them.

The banking collapse was caused, more than anything, by bad government policy and the total failure of bad regulation, rather than by greed.

From my point of view it's impossible to cut debt in a country with new debt from another country.

I'm not panicking, and I'm not scared, I've been through the Gulf War, the Asia crisis, and the Russian crisis.

I have met too many people who are looking for work, worrying about their mortgage, uncertain about their health insurance, and doubting that things will get any better anytime soon. Not just concerned about the present, many of us are doubting the future.

The Great Bailout is mostly over for the banks. But for those troubled behemoths of the nation's housing bust, Fannie Mae and Freddie Mac, the lifeline from Washington just keeps getting longer.

In September 2008, the overleveraged and undermanaged U.S. banking system suffered a terrifying collapse. And that, in turn, nearly took the whole country down.

The world is still in deleveraging.

At many points during our nation's history, there have been times - known in our history textbooks as 'panics' - when adverse conditions affecting the financial and economic sectors of the country have caused individuals to hoard more than they need.

To my mind, the main reason for the Depression in the United States as a whole, is the bondage of debt and the spirit of speculation among the people.

What we know about the global financial crisis is that we don't know very much.

I think, my generation, it's hard to have hope when you got a $700-trillion derivatives debt to pay and a bubble about to explode and $500 trillion worth of GDP.

The financial crisis that began in the summer of 2007 was an extraordinarily complex event with multiple causes.

We have discharged one generation of debtors after another, but we do not find that their numbers lessen. We find only that we forget, when times are good, that times were ever bad.

Bankruptcy exposes the economic vulnerability and insecurity of middle class women.

I have 13 bankers in my office, and they say that if you go forward with this you will cause the worst financial crisis since World War II.

Overpaid bankers taking big risks with other people’s money brought the world to its knees..

An AIG failure would have been devastating to the financial system and to the economy.