Gita Gopinath Quotes

As for the single market, the E.U.'s landmark achievement, there is no question that a euro zone breakup would severely disrupt its operation in the short run.

Taxing financial markets, promoting research and development, and mobilising investments: that means learning our lessons from the financial market crisis and changing our focus.

Financial markets are supposed to swing like a pendulum: They may fluctuate wildly in response to exogenous shocks, but eventually they are supposed to come to rest at an equilibrium point and that point is supposed to be the same irrespective of the interim fluctuations. Instead, as I told Congress, financial markets behaved more like a wrecking ball, swinging from country to country and knocking over the weaker ones. It is difficult to escape the conclusion that the international financial system itself constituted the main ingredient in the meltdown process.

In the past six months, our federal government has devised a dozen strategies to save America's financial markets. Each plan has been more costly, more risky, and less aligned with the principles of our country's free market economy than the last. I am disappointed to say that this latest plan puts all the rest of them to shame.

In Germany it is good if as many people as possible join initiatives and peaceful demonstrations against the rule of the financial markets. Worshipping the unfettered freedom of global markets has brought the world to the brink of ruin. We now need social and ecological rules for the market economy.

If there had been a Financial Product Safety Commission in place 10 years ago, the current financial crisis would have been averted.

The IMF is set up to deal with liquidity crises.

We do not want financial convulsions.

The art of government is to deal with threats before they become overwhelming.

The best way to avoid hostages being taken in the future is to devalue the hostages that exist.

Wall Street has become the Western extension of Threadneedle and Lombard streets, and the wealthy classes of England and America have been brought into touch... .

Fannie Mae may have conformed to the rules but the rules didn’t conform to reality. A major bank or financial institution could meet every single regulatory requirement yet still be at the risk of collapse.

Unregulated derivatives like credit default swaps threaten our regulated markets, or indeed our economy without any Federal agency knowing about it.

There are some outcomes in finance we don't want, and government should regulate that.

It's important for the Fed, hard as it is, to attempt to detect asset bubbles while they're forming.

Helping Wall Street regain confidence and stability was the last thing an angry public wanted in 2009 after the markets crashed. But without such support, markets can buckle and liquidity can disappear - often for decades, as has been the case in Japan.

The lesson of 2008 is that ultimately our markets are driven by confidence.

You can't look back at the worst financial crisis of our lifetimes that started in 2008 and not have some important lessons about the critical nature of oversights in financial markets and institutions.

Making economic policy isn't a popularity contest, especially when financial markets are in a panic.

Despite PAL's troubles in the late 1990s, we were fortunate to have steered the company to clearer skies.

Our financial markets work best when they are competitive, fair, and transparent.

Bringing back something akin to Glass-Steagall would clearly help limit risk in the system. And that's a very good and worthy goal. Letting banks sell securities and insurance products and services allowed them to grow too big too fast and fueled a culture that put profit and pay over prudence.

If AIG collapsed, it would have buckled our financial system and wrought economic havoc on the lives of millions of our citizens.

Liquidity is oxygen for a financial system.

I don't think Congress, in general, has done a good job articulating to the American public how inextricably linked our credit markets are to our entire economic system.