Don DeLillo Quotes

The economic costs, the financial costs, the job losses, the income losses, the fiscal costs of bailing out financial system are becoming larger and larger.

The Federal Reserve has a responsibility to ensure the safety and soundness of financial institutions and to contain systemic risks in financial markets.

If the financial system collapses, it's really, really hard to put it back together again.

No country can be complacent in making sure that excessive debt of the household doesn't create excesses and weaknesses in the financial system. Everything is interconnected.

It's kind of a funny way to put it, but if you want to study a dynamic economic system, what you'd like to be able to do is focus on the linkages, say, between asset markets and the macro economy without having to model everything at the same time.

The single biggest unexplained reason for long term lower growth is that the financial system has stopped serving the real economy and now serves mainly itself.

The Fed has neither the clear statutory authority nor the mandate to anticipate and deal with risks across our entire financial system.

Starting in late 2007, faced with acute financial market distress, the Federal Reserve created programs to keep credit flowing to households and businesses. The loans extended under those programs helped stabilize the financial system.

No matter how the financial system is set up, no matter what the economic system is, as long as you have people, you're going to have financial crises; you're going to have bubbles that manifest themselves in the financial system.

It's better to have the taxpayer pay for the losses than have the United States of America become an economic wasteland. If the financial system collapses, it's really, really hard to put it back together again.

The Fed's organization reflects a long-standing desire in American history to ensure that power over our nation's monetary policy and financial system is not concentrated in a few hands, whether in Washington or in high finance or in any single group or constituency.

The entire economy relies on the suspension of disbelief. So does a fairy story or an animated cartoon. This means that no matter how soberly the financial experts dress, no matter how dry their language, the economy they worship can only ever be as plausible as an episode of 'SpongeBob SquarePants.'

In the wake of the 2008 recession, Congress and the Obama Administration rightly focused financial regulation on protecting the nation's financial system from itself.

There is a well-established conviction that the central banks always do what is necessary to keep the system going and then afterwards you then take care of the legal aspects. In a crisis, you simply do not have time to think about such concerns for too long.

In truth, money is not created until the instant it is borrowed. It is the act of borrowing which causes it to spring into existence. And, incidentally, it is the act of paying off the debt that causes it to vanish.

Under the gold standard gold is money and money is gold. It is immaterial whether or not the laws assign legal tender quality only to gold coins minted by the government.

Essentially, not only do we believe in this myth of 'de-risking', but it has become the one overriding goal; de-risking above growth, de-risking above innovation, de-risking above everything else. And we've reached the point where the Fed is using $70 Billion a month to 'de-risk' a largely insolvent banking system. And this can only end badly. The idea that you can do capitalism without risk is ridiculous on its face.

The U.S. government has a technology, called a printing press (or, today, its electronic equivalent), that allows it to produce as many U.S. dollars as it wishes at essentially no cost.

Our public credit is good, but the abundance of paper has produced a spirit of gambling in the funds, which has laid up our ships at the wharves as too slow instruments of profit, and has even disarmed the hand of the tailor of his needle and thimble. They say the evil will cure itself. I wish it may; but I have rarely seen a gamester cured, even by the disasters of his vocation.

The idea of creating a national bank I do not concur in, because it seems now decided that Congress has not that power (although I sincerely wish they had it exclusively), and because I think there is already a vast redundancy rather than a scarcity of paper medium.

Each economy relies on the credit system, that is, on the erroneous assumption that the other will pay back money pumped.

It's not so much about form versus functionality. Rather, it's about doing both and doing them a lot and doing them well-and that's how we should be talking about architecture.

The first priority is to make sure we have capital to continue to have capital available to put into the financial system. That's the first priority.

It is the international system of currency which determines the totality of life on this planet. That is the natural order of things today. That is the atomic, and sub-atomic, and galactic structure of things today. And you have meddled with the primal forces of nature! And you will atone! Am I getting through to you, Mr. Beale?

You don't want 300 million Americans putting their money under the mattress.