Cass Sunstein Quotes

A collapse in U.S. stock prices certainly would cause a lot of white knuckles on Wall Street.

Normally, if you have a huge category that leads a bear market all the way down to the bottom - like tech after 2000, or energy in the '80-'82 bear market - you get one quick pop, and then years of lag as we fight the old war.

Normally, the market peaks before bad news emerges. That's what happened in 1929, and that's what happened in 2000.

There may be a recession in stock prices, but not anything in the nature of a crash..

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…

We say, 'The market plummets,' like it's some roaring creature.

You could have another downgrade. You could certainly have a stock market reaction that would be negative. And, I think nobody who looks at it objectively would want to happen.

For those of us in the financial world, Black Friday has a strong negative connotation, referring to a stock market catastrophe.

I think the tech stock, the public market is still completely traumatized by the dotcom crash. I think the investors and reporters and analysts and everybody is determined to not get taken advantage of again, and that is what everybody who lived through 2000, what they kind of remember.

At least us old men remember what a real bear market is like, and the young men haven't got a clue.

In the 1987 stock market crash, according to the conclusions of the official Brady report, colossal sales of stock index futures by so-called portfolio insurers - whose investment strategies depended entirely on these derivatives - greatly exacerbated the 500-point market decline.

A collapse in U.S. stock prices certainly would cause a lot of white knuckles on Wall Street. But what effect would it have on the broader U.S. economy? If Wall Street crashes, does Main Street follow? Not necessarily.

By March '87 we're down to seven thousand, by the end of the year we're down to twelve hundred. The whole bottom just fell out of the market. It was bad for me because I was in Australia at the time.

Wall Street has become a veritable casino.

We judged that a sudden, disorderly failure of Bear would have brought with it unpredictable but severe consequences for the functioning of the broader financial system and the broader economy, with lower equity prices, further downward pressure on home values, and less access to credit for companies and households.

Remember, 2000 was the year of the dot-com bust. The telecom industry lost about $2 trillion in market capital at that time.

The trend of the market is up, not down. Shorting stocks puts you against that trend and thus makes it more difficult to make money.

I don't think objectively we are in a tech bubble when tech stocks are at a 30 year low.

I could never gamble on stocks and shares because I saw my father get hurt that way - he lost quite a lot of money when the stock market collapsed in 2001.

In a crisis, markets always look to see who is the next-worst off and proactively begin shying away from them.

When the stock market crashed, Franklin Roosevelt got on the television and didn't just talk about the princes of greed. He said, 'Look, here's what happened.'

After 1929, so many people had been traumatized by the stock market crash that there was a lost generation.

The year 1983 was crazy. People wanted to sell not only their investments... but also their companies.

In history, the evidence is overwhelming: Stock market bottoms happen, and then stocks jolt upwards while the economy keeps getting worse - sometimes by a lot and for a long time.

There will be no repetition of the break yesterday …. I have no fear of another comparable decline.