Roger Ailes Quotes


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The Meltdown of 2008 came a year later and Citigroup, one of the largest banks in America, had massive liquidity problems and in order to stave off bankruptcy the taxpayers had to come up with $45 Billion. The bank executives, as this quotation demonstrates, knew that they were in a very risky situation and that if the subprime mortgages started to default, the “music would stop” and they and the other banks would have a massive liquidity problem. None the less, they kept on investing more and more of their bank customer’s money and making money in what they knew was a highly risky enterprise. The greed clouded their judgment and when the music stopped and many were no longer dancing, the Meltdown of 2008 almost destroyed the entire national economy and triggered the Great Recession where the overwhelming proportion of Americans had to suffer for the greed of those who could not “stop dancing” even as they knew it was very dangerous.


Born thought that her agency was responsible for regulating the new esoteric financial products—derivatives including credit default swaps—for otherwise there would be no regulation at all of financial products that could dwarf the stock and bond market. Summers persuaded her to back off. When the Meltdown of 2008 hit, the huge derivative exposure of the large banks and some insurance companies was so great that it was one of the major causes for the meltdown of the entire banking system. Summers, normally a great economist not only called this one wrong, but later, along with most other government and private economists ignored a very explicit warning—See {637168}, {637986}, and {620038}.


Roger Ailes
Roger Ailes
  • Born: May 15, 1940
  • Died: May 18, 2017
  • Nationality: American
  • Profession: President Fox News, Chair Fox Television, Stations, 20th Television

Roger Eugene Ailes was an American television executive and media consultant. He was the chairman and CEO of Fox News, Fox Television Stations and 20th Television, from which he resigned in July 2016 after allegations of sexual harassment were made by 23 women. Ailes was a media consultant for Republican presidents Richard Nixon, Ronald Reagan, and George H. W. Bush, and for Rudy Giuliani's first mayoral campaign. In 2016, he was resigned from Fox News after being accused of sexual harassment by several female Fox employees, including on-air personalities Gretchen Carlson and Megyn Kelly. Shortly afterward, he became an adviser to the Donald Trump campaign, where he assisted with debate preparation.