Nick Clegg Quotes

I'm astonished at how quickly the Great Recession came and went.

If you had asked people in 1929, 'Here is what is about to happen. How much would you pay to avoid the Great Depression from occurring?' The answer is they would have paid a lot. They would have borrowed money if it could be used to prevent the Great Depression.

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

The Stock Market was down today. Two major businesses declared bankruptcy, consumer spending is at an all time low - in other words, Bush is back on the job.

The economic crisis has weakened the EU for years.

The current financial crisis in the US is likely to be judged in retrospect as the most wrenching since the end of the Second World War.

Global stocks bottomed in June 1921, but global economies didn't hit bottom for fully two more years.

Never before in modern times has so much of the world been simultaneously hit by a confluence of economic and financial turmoil such as we are now living through.

In 2008, when the global financial crisis struck, it was a bad year for a lot of developing countries, and it manifested itself in consumer confidence.

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.

Admit it America - 2008 was our national 'oops' moment!

I'd be kidding if I said that I predicted the financial collapse.

America had been a boom-and-bust economy going into the Great Depression - just over and over and over, fortunes were wiped out, ordinary families were crushed under it.

We do not want financial convulsions.

Europe is on an economic collision course with reality.

The Depression has caused an emergency more serious than war.

I think that this is the most significant financial crisis in the post-War period for the United States, and it has in fact a global reach.... I think it is extraordinarily important to understand that, as we have seen in many previous examples of different countries and different times, choking up of credit is like taking the lifeblood away from the economy.

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.

What happened is we went into a recession beginning in December of 2007 that was the worst since 1929. And it is a very deep hole that we have been struggling to get out of.

Some things never change - there will be another crisis, and its impact will be felt by the financial markets.

Sometimes, the aftermath is more devastating than the storm. That is the story of the 2008 financial crisis. It was disastrous at the time, but what has been worse is how long it has lingered.

As far as I can find, almost no one in the profession - not even luminaries like John Maynard Keynes, Friedrich Hayek, or Irving Fisher - made public statements anticipating the Great Depression.

I experienced the year 2000 dot com crash and the 2008 financial crisis, and it almost wiped out the company.

The fear among economists across the political spectrum that was - was that we were rapidly plummeting towards a second Great Depression. So, in the weeks and months that followed, we undertook a series of difficult steps to prevent that outcome. And we were forced to take those steps largely without the help of an opposition party, which, unfortunately, after having presided over the decision-making that had led to the crisis, decided to hand it over to others to solve.

When you inherit the level of economic catastrophe that President Obama inherited, it was a real touch-and-go situation.