Get QuoteDark Inspirational Quotes App

" No bank should be too big or too complex to fail, but almost any bank is too big to liquidate quickly, particularly in the midst of a crisis. "

Related Quotes:

" My preference is for the Federal Reserve to be the systemic risk regulator, because the responsibility for identifying and limiting potential problems is a natural complement to its role in monetary policy. "

" When you have a big, ugly problem, there's never going to be a neat, elegant solution that is totally painless or without a cost. "

" When I worry about risks, I worry about the biggest ones, particularly those that are difficult to predict - the ones I call small but deep holes. While odds are you will avoid them, if you do fall in one, it's a long way down and nearly impossible to claw your way out. "

" Simply put, a Trump presidency is unthinkable. "

" As Americans, we shouldn't like bailouts. Where I come from, if someone takes a risk and they're going to make the profit from that risk, they shouldn't have the taxpayer pay for the losses. "

" Foreclosure is to no one's benefit. I've heard estimates that mortgage investors lose 40 to 50 percent on their investment if it goes into foreclosure. "

" As I talk with the Chinese on currency, I encourage them to move much more quickly with opening up their capital markets to competition, because I don't believe the world is going to give them as much time as they would like. "

" What I've said repeatedly is, 'I think the auto industry is a very important industry.' "

" I've been through periods of stress, turbulence in the market for over the course of my career, various times, and never in any of those other periods have we had the advantage of a strong economy underpinning the markets. "

" Anticompetitive practices hurt Chinese private firms nearly as much as foreign ones. "

" A state-based regulatory system is quite burdensome. It allows price controls to create market distortions. It can hinder development of national products and can directly impact the competitiveness of U.S. insurers. "

" When the economy is growing, there's a lot that can be done to deal with the deficit. "

" For market discipline to constrain risk effectively, financial institutions must be allowed to fail. Under optimal financial regulatory and financial system infrastructures, such a failure would not threaten the overall system. "

" Regulation needs to catch up with innovation. "

" Sovereign wealth fund money should be welcomed. The only way not to welcome that money is when it's politically driven. "

" As a Christian Scientist, I don't go to doctors and get diagnoses. "

" U.S. exports to China have more than quintupled since China entered the WTO and have grown more quickly than imports. In fact, China is America's fastest-growing export market. "

" No matter how the financial system is set up, no matter what the economic system is, as long as you have people, you're going to have financial crises; you're going to have bubbles that manifest themselves in the financial system. "

" There is a time for weighing evidence and a time for acting. And if there's one thing I've learned throughout my work in finance, government, and conservation, it is to act before problems become too big to manage. "

" I never cared about money. When I was at school, I never wanted a car. I was focused on sports, studies, camping, being outdoors. "

" We have institutions that have been allowed to become too big to fail because we had all kinds of flaws in our financial infrastructure, in the whole way over-the-counter derivatives work. "

" I look forward to the day when China has a truly market-determined solution... To get there, you need to have a currency that is market-determined, an open capital market, and you are going to need a competitive, open financial system. "

" In the past, if a homeowner with a mortgage had a problem making the payment, often he'd get together with a lender and strike a deal, because foreclosures are very expensive to the lender and obviously not good for the homeowner and the community. "

" When you run a company, you want to hand it off in better shape than you found it. In the same way, just as we shouldn't leave our children or grandchildren with mountains of national debt and unsustainable entitlement programs, we shouldn't leave them with the economic and environmental costs of climate change. "

" Illiquid asset purchases are all about capital and encouraging private capital to come in. "

" I see nothing easy in Washington. I see either analytically simple things that are politically complex or those that are politically complex and analytically complex. I mean, look at immigration reform, you know? It is, I think, analytically easy, but politically very, very complex and very difficult. "

" I was secretary of the Treasury in 2008. In that role, I had the privilege to work with many talented men and women in government and the private sector who labored to pull our nation back from the brink of disaster. "

" I don't take lightly ever putting the taxpayer on the line to support an institution. "

" My dad was somewhat of a naturalist and used to teach us about different birds and trees. So did a fifth grade teacher who made a lasting impact on me; to this day, I remember his lessons about counting the needles on pine trees, seeing if they are twisted or straight, and about checking the tips of oak leaves to see if they are pointed or lobed. "

" Large financial institutions in this country will always play a role that is essential to our economic growth. But they must only be permitted to grow and interconnect, throughout our economy, under careful oversight and with a mechanism for allowing those connections to be broken safely. "