Financial Deregulation Quotes

With government deregulation and the triumph of financial liberalization, the dangers of systemic risks, the possibility of a financial tsunami, sharply increased.

Imperceptibly, the developed world's manufacturing base was gradually eroding and being replaced by securitized finance that destroyed itself and nearly its economies in 2008.

The biggest culprits in the housing fiasco came from the private sector, and more specifically from a mortgage industry that was out of control.

Who passed Wall Street deregulation that enabled the meltdown of Wall Street and the disappearance of nine million jobs, the theft of 5 million homes?

In London - and forget those extra public pressures on politicians - the lovely old Sloane world of manor houses simply hasn't cut it since Big Bang in 1986, the point at which Mrs. Thatcher really started to achieve her ambition to make this country more like America - its ambition, economy, it's very tangible measures of success.

What caused the economic collapse 2008? It was the subprime mortgage crisis.

The stupid and dishonest accountants allowed the genie of totally inappropriate accounting to descend on derivatives books. And once this has happened - people get status, etc. - it's impossible to get it back into the bottle.

Cruz named Former Texas Senator Phil Gramm as his economic guru. This guy virtually crashed the U.S. economy. Gramm is largely responsible for two bills which led to the speculative bubble which popped in September 2008.

After all, Wall Street is clearly the most powerful lobbying force on Capitol Hill. From 1998 through 2008, the financial sector spent over $5 billion in lobbying and campaign contributions to deregulate Wall Street.

If you'd like to buy some of the fruits of deregulation, we have some S&L's [savings & loan's] we'd like to sell you.

Now financial liberalization is just a catastrophe waiting to happen, and there are very well understood reasons for that.

Every Republican's voted for it. Look at what they value and look at their budget and what they're proposing. Romney wants to let the - he said in the first 100 days he's going to let the big banks once again write their own rules - unchain Wall Street. They're gonna put y'all back in chains.

You know, I'm the President during this period of time, but I think when the history of this period is written, people will realize a lot of the decisions that were made on Wall Street took place over a decade or so, before I arrived in President, during I arrived in President.

We survived for hundreds of years under the old banking structure. You'd have clearing banks, then merchant banks doing the racy stuff, and then building societies where you'd join a waiting list for a mortgage. But then banks started buying stockbrokers, doing mortgages, and you ended up with these big banking groups doing everything.

My early windfall was a result of the excesses of the S&L era.

In the deregulated realm of US banking and finance, crime does occasionally pay for its foul deeds, not in prison time but by making modest rebates to the victims.

Concentrating wealth in the hands of the few and deregulating financial institutions and practices lead to speculative bubbles that eventually burst - and that brings the whole country down.

The American banking system, which at one time extended productive loans to agriculture and industry, has today become a giant betting machine

Before 1980, it was basically illegal for U.S. banks to invent new products.

What we have been living for three decades is frontier capitalism, with the frontier constantly shifting location from crisis to crisis, moving on as soon as the law catches up.

When giant companies wanted more tax loopholes, Washington got it done. When huge energy companies wanted to tear up our environment, Washington got it done. When enormous Wall Street banks wanted new regulatory loopholes, Washington got it done. No gridlock there!

Capital market liberalization includes freeing up deposit and lending rates, opening up the market to foreign banks, and removing restrictions on capital account transactions and bank lending. The focus is on deregulation, not on finding the right regulatory structure.

There are too many bad policy choices to go into that are being pushed by the Trump Administration, but the relaxation of environmental regulations and corporate and banking regulations alone are enough to keep me busy and should be a big concern for every citizen who isn't a billionaire and likes to breathe air.

The culture of self-gratification and deregulation that began during the Clinton years and continued under President George W. Bush led to the bursting of one stock market bubble at the turn of the century and a full-scale financial crash less than a decade later.

Let's talk about why, in the 1990s, Wall Street got deregulated. Did it have anything to do with the fact that Wall Street provided - spent billions of dollars on lobbying and campaign contributions? Well, some people might think, yeah, that had some influence.