Bankruptcy Quotes

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Quote Author Cited
The moral and constitutional obligations of our representatives in Washington are to protect our liberty, not coddle the world, precipitating no-win wars, while bringing bankruptcy and economic turmoil to our people. Ron Paul
Ninety-nine percent of the failures come from people who have the habit of making excuses. George Washington Carver
… lame duck Horace Walpole; 4th Earl of Oxford
There is never enough where nought is left. Italian Proverb
Mr. Chairman, we have in this Country one of the most corrupt institutions the world has ever known. I refer to the Federal Reserve Board and the Federal Reserve Banks… The Fed has cheated the Government of these United States and the people of the United States out of enough money to pay the Nation's debt. The depredations and iniquities of the Fed has cost enough money to pay the National debt several times over. This evil institution has impoverished and ruined the people of these United States, has bankrupted itself, and has practically bankrupted our Government. Louis Thomas McFadden
The government was unable to avert or to control the course of events. Alexander James Dallas
The Treasury was suffering under every kind of embarrassment. The demands upon it were great in amount, while the means for satisfying them were comparatively small, precarious in collection and difficult in their application. Alexander James Dallas
The Russian Revolution has demonstrated beyond doubt that the State idea, State Socialism, in all its manifestations ... is entirely and hopelessly bankrupt. Emma Goldman
The government relying on it would be disappointed, and ruin soon stare them in the face. Thomas P. Grosvenor
[The choice is between] chaos, confusion, bankruptcy, state socialism or communism, and the American way of life. Joseph W. Martin Jr.
Liquidate labor, liquidate stocks, liquidate farmers, liquidate real estate. It will purge the rottenness out of the system. High costs of living and high living will come down. People will work harder, live a more moral life. Values will be adjusted, and enterprising people will pick up the wrecks from less competent people. Andrew Mellon
Bankruptcy has become a feeding trough for lawyers, accountants and investment bankers. Howard M. Metzenbaum
After a while if you have low enough taxes you'll be bankrupt. Charles Krauthammer
… there is such a general scarcity of Cash that nothing We have will Command it & Real Estates of Every kind are falling at least one half in value. Debtors that were a year or two ago responsible for £1000 can not now Raise a fourth part of the sum & those who had putt out their money upon Land Security of double the value are unable to get the principal as there is an Entire Stop to all sales by the sheriff for want of Buyers and Men of the best Estates amongst us can Scarce Raise money enough to defray the Necessary Expenses of their family’s. Our Stores in the Country that used to furnish Every necessary for the inhabitants are all shut up James Parker
You cannot continue to pay what you don’t have. Osby Davis
We have spent years robbing Peter to pay Paul until now Paul is also broke. Osby Davis
Half of all personal bankruptcies in the United States are due to high medical expenses. Millions of Americans are living one illness away from financial disaster. Anirudh Krishna
If the United States assumes control of Iraq, it will therefore assume control of a badly battered economy Conrad C. Crane
There is something wrong when we had more bankruptcies last year than college graduates. Hillary Clinton
It’s going to put people into indentured servitude to the credit card companies. Ted Kennedy
We have, in this country, one of the most corrupt institutions the world has ever known. I refer to the Federal Reserve Board. This evil institution has impoverished the people of the United States and has practically bankrupted our government. It has done this through the corrupt practices of the moneyed vultures who control it Louis Thomas McFadden
The biggest pressure towards bankruptcy is health expenses … an unexpected health problem is the biggest driver. Katherine S. Newman
We have, in this country, one of the most corrupt institutions the world has ever known. I refer to the Federal Reserve Board. This evil institution has impoverished the people of the United States and has practically bankrupted our government. It has done this through the corrupt practices of the moneyed vultures who control it Louis Thomas McFadden
Almost half of the bankruptcies in the United States are connected to an illness in the family, whether people had health insurance or not. Middle-class Americans, who had the misfortune of either experiencing a medical emergency themselves or watching a family member suffer, were then forced to face the daunting task of pulling themselves out of debt. Bankruptcy law has allowed them to start over. It has given hope Dennis Kucinich
Too many of our senior citizens are being forced to choose between neglecting their illnesses or being impoverished by them. Ted Kennedy
Hideous bankruptcy is here ... yet you deliberate .... Is it so magnanimous ... to give a portion of one's revenue to save all of one's possessions? Honore de Mirabeau; Honore Gabriel Victor Requiti
When national debts have once been accumulated to a certain degree, there is scarce, I believe, a single instance of their having been fairly and completely paid. The liberation of the public revenue, if it has ever been brought about at all, has always been brought about by bankruptcy; sometimes by an avowed one, but always by a real one, though frequently by a pretend payment. Adam Smith
Situations emerge in the process of creative destruction in which many firms may have to perish that nevertheless would be able to live on vigorously and usefully if they could weather a particular storm. Joseph A. Schumpeter
Not only have government bills been dishonored and the interest on the public debt remains unpaid, but … so completely empty is the Treasury and destitute of credit, that funds cannot be obtained to defray the ordinary expenses of the different departments. Alexander C. Hanson
Let Detroit go bankrupt. Mitt Romney
Let Detroit go Bankrupt Mitt Romney
I had, in my legal practice, often encountered really shocking examples of the devastating impact of the costs of long-term medical care on meager incomes. And, just before I was elected, I had my own personal experience in paying very considerable bills for my mother's terminal illness. Judy LaMarsh
In a bankruptcy, everyone around the table has an interest in making the workers take a haircut. The more the workers take a haircut, the more money there is for the bondholders and stockholders. Richard Trumka
Look at MIT—the smartest people in the world. They start up 50 companies a year. Only 1 makes it. Joseph S. Paresi
We can’t be a great country unless we have great cities. Mark Shields
Often in capitalism, when you hit bottom, you have some perverse advantages—low cost and people really desiring a turnaround—to do whatever it takes. David Brooks
This can has been kicked down the road for 60 years. Enough is enough!!! Rick Snyder
When the music stops, in terms of liquidity, things will be complicated. But as long as the music is playing, you’ve got to get up and dance. We’re still dancing. Charles Owen Prince III
When you’re highly leveraged, everything is exaggerated. Good times are better—but bad times are much worse. Lee Iacocca
1971 … was the year when, for the very first time, the United States bailed out an industrial firm whose own financial management had driven it to the brink of extinction. The company was Lockheed Aircraft Corporation and the bailout was in the form of a loan guarantee worth $250 million. Barry Ritholtz
A company is only as solvent as the perception of its solvency. Meredith Whitney
No private enterprises should be allowed to think of itself as too big to fail. No taxpayer bailouts should allow executives or stockholders to relax. William Safire
We are broke—bankrupt—really bankrupt! James Baker
The Panic of 1893 was a dismal time of radiating destruction …. It was good for the bears …. the wild joy of men who shorted stocks and rejoiced in the ruin… Lincoln Steffens
I’ll be damned if I will accept another package of economic policies perpetuate the same crisis. This is not what I was elected for. Yanis Varoufakis
The Depression is a good thing generally. Let them fail. Let everybody fail! I made my fortune when I had nothing to start with, by myself ns my own ideas. Let other people do the same. Henry Ford
Lawyers, and others concerned in Court Business, will probably many of them be against a plentiful Currency; because People in that Case will have less Occasion to run in Debt, and consequently less Occasion to go to Law and Sue one another for their Debts. Tho' I know some even among these Gentlemen, that regard the Publick Good before their own apparent private Interest. Benjamin Franklin
You must remember that the Union saved Scotland. Scotland was bankrupt and the English opened us up to their American and Canadian markets, from which we just flowered Billy Connolly
Can a nation call itself free if it finds itself periodically on the verge of bankruptcy and starvation in the face of the fact that it possesses all the materials of the good life? John Corbin
No man should be made poor so another man can be made rich. Gary Ross