Gita Gopinath Quotes

If debtors can reasonably expect that the government will swoop in from time to time to bail them out, no one has any incentive to pay his debts.

When borrowers anticipate that politicians might cancel their loans, they stop paying.

Waiving debts corrupts the credit culture.

How about we all stop paying our mortgages! It's a moral hazard.

The federal government requires that its loans be paid back within 10 years of graduation, and Harvard has pegged its loans to the same 10-year timetable. Yet despite Harvard's low default rate, the idea of years of loan debt is daunting for some students even before it's time to pay back.

If you have a lot of short-term debt, it means that all of that money can be demanded in a very short period of time. Technically, short-term debt means money that's coming due within a year. Typically, it means money that's coming due within 30 to 90 days.

If you're trying to get out of debt, you have to be willing to treat everything as expendable.

It's an open secret that if a debtor is willing to wait long enough, he can probably get away with paying almost nothing, as long as he doesn't mind hurting his credit score.

Solving a problem created by debt... by creating more debt is a fool's errand.

With weak balance sheets, banks tend to continue lending unprofitable businesses and leave them existing.

... maybe we can all agree on one lesson from the Greek crisis, namely that, to maintain a friendship, you should lend only as much money as you are ready to give away anyway.

The answer to too much debt is not more debt; it is less debt.

There are but two ways of paying debt—increase of industry in raising income. increase of thrift in laying out.

If any one owe a debt for a loan, and a storm prostrates the grain, or the harvest fail, or the grain does not grow for lack of water; in that year he need not give his creditor any grain, he washes his debt-tablet in water and pays no rent for this year.

I'm the king of debt.

Under Bill Clinton's HUD Secretary Andrew Cuomo, Community Reinvestment Act regulators gave banks higher ratings for home loans made in 'credit-deprived' areas. Banks were effectively rewarded for throwing out sound underwriting standards and writing loans to those who were at high risk of defaulting.

Do not enter into an agreement you cannot afford. Take precautions to avoid institutional loans with double-digit interest rates.

Financial Aid Office (FAO) administrators are scrambling to educate students on repaying loans, but a disparity in knowledge persists.

Loans are a different experience for everyone, but the mentality you have to have is not to feel relaxed. You have to have a mindset that you're going to try harder and work harder than anyone.

A lower interest rate doesn't make a debt go away.

Debt is a trap which man sets and baits himself, and then deliberately gets into.

Debt is like any other trap, easy enough to get into, but hard enough to get out of.

Debt is to man what the serpent is to the bird; its eye fascinates, its breath poisons, its coil crushes sinew and bone, its jaw is the pitiless grave.

People always push the boundaries, especially when the rewards are so high financially.

LFC is not servicing debt other than stadium debt.