Benjamin Strong Quotes

But despite historic levels of obstruction, President Obama was able to bring the economy back from the verge of a second Great Depression.

I don’t care a damn about stocks and bonds, but I don’t want to see them go down the first day I am President.

The economic repercussions of a stock market crash depend less on the severity of the crash itself than on the response of economic policymakers, particularly central bankers.

It took capitalism half a century to come back from the Great Depression.

Canadians know that the promise of a recession didn't happen because of anything we did here. If you look at all the causes of the recession, problems in mortgage markets, the problems in the banking sector, the problems in government finance in countries like Greece, none of those problems were in present Canada.

The U.S., France, Germany and Canada have all responded to the financial crisis by boosting rather than cutting their science funding. The U.K. has not.

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

I have 13 bankers in my office, and they say that if you go forward with this you will cause the worst financial crisis since World War II.

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.

I was secretary of the Treasury in 2008. In that role, I had the privilege to work with many talented men and women in government and the private sector who labored to pull our nation back from the brink of disaster.

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

If you look at what happened, I came in the middle of the worst financial crisis since the Great Depression. And unlike Franklin Delano Roosevelt who waited, well, didn't take office until about three years into the Great Depression, it was happening just as I was elected.

The Mexican debt crisis, Latin American debt crisis, the crises of the 1990s, the Wall Street stock market crash, and other events should have reminded us, and did remind us, that financial instability remains a concern, remains a problem.

What the president announced yesterday, is that somehow magically, if we just continue to prime the pump of taxpayer dollars, we're going to see magically an economic recovery.

Gordon Brown and Alistair Darling, in hosting the G20 summit and in the budget, must display the same boldness in tackling the instability at home that they do in promoting a worldwide answer to the global meltdown.

There was no blueprint or how-to manual for fixing a global financial meltdown, an auto crisis, two wars and a great recession, all at the same time.

The stress on the financial system in the fall of 2007 was significant, but not so significant as to threaten the overall stability of the U.S. economy, although it did lead to the beginning of a recession at the end of 2007.

What got us out of the depression was capitalism, and we would have gotten out a lot quicker had the government not intervened.

There was endless controversy as to whether the acts of the New Deal did actually move recovery or retard it, and nothing final could ever come of that bitter debate because it is forever impossible to prove what might have happened in place of what did.

After the collapse of Wall Street in the 1920s, the culture stopped being all about money, and the country survived and ultimately flourished.

Global stocks bottomed in June 1921, but global economies didn't hit bottom for fully two more years.

Investing in auto companies and ensuring a financial collapse didn't lead not from a recession to a great depression may not have been the most popular thing to do, but it was the right thing to do.

But if, if you take a look at what would have happened, I mean, do we need to see soup lines down the street to figure out what would have happened? We avoided - and all economists will tell you that millions of jobs were saved because of the Recovery Act, and we avoided a second Great Depression. That, that is a reality.

Market capitalism survived and prospered after the boom-bust industrial revolution of the 19th century, and the Great Depression and world wars of the 20th century. It will recover from the financial panic of 2008-09 and Obamanomics.

On Wall Street, financial crisis destroys jobs. Here in Washington, it creates them. The rest is just details.