Eric Schneiderman Quotes

I'm really concerned that too-big-to-fail has become too-big-for-trial.

Too big to fail is too big.

Not one criminal charge has ever been brought to any bank executive associated with the 2008 crisis. And in fact, it gets worse. No bonuses and none of their equity was taken.

The idea that either individuals or organisations are 'too big to fail' or that the tech and start-up sector is somehow different is wrong.

If you think about those bailouts that happened in 2008, that was a situation in which the government gave, at our expense, enormous sums of money to some of the richest people who have ever existed on Earth.

As long as the big banks are allowed to remain big, their political leverage over Washington will remain big. And as long as their political leverage remains big, the taxpayer and economic tab for the next mess they create will be big.

If a bank's too big so that it can't fail without hurting our economy, well then, it's too big.

Don't reward bad behavior. It is one of the first rules of parenting. During the financial cataclysm of 2008, we said it differently. When we bailed out banks that had created their own misfortune, we called it a 'moral hazard,' because the bailout absolved the bank's bad acts and created an incentive for it to make the same bad loans again.

No one suggested Lehman deserved to be saved. But the argument has been made that the crisis might have been less severe if it had been saved, because Lehman's failure created remarkable uncertainty in the market as investors became confused about the role of the government and whether it was picking winners and losers.

Banks too big to fail are too big to be regulated or controlled by the Federal Government.

Global banking’s current structure generates an unjust distribution of risks, where losses are socialized.

We must limit the perception that some institutions are either too big or too interconnected to fail.

Where human lives are concerned, time is always short, yet the world has witnessed the vast resources that governments can draw upon to rescue financial institutions deemed 'too big to fail.'

Most Ohioans would be surprised to know that the same Wall Street megabanks which received bailouts from taxpayers in 2009 also receive taxpayer-funded advantages today simply because of their 'too big to fail' status.

It's hard to punish and save the banks at the same time.

When the banks grow to or when these financial institutions grow to such a size that they can't sustain themselves, or what have you, they have problems, economic problems, or financial problems, they shouldn't be able to look back to you and I, the taxpayer, to be bailed out.

We must learn the lessons of the 2008 crash: no company should be able to become too big to fail.

The Dodd Bill does very little to reduce financial risks. What it will do is make Wall Street even more the servant of bureaucrats in Washington and the political party in power. That is not in the best interests of the American people.

I won't dispute that bankers' privileged treatment in the 2008 crash merits populist scorn. But unfortunately, without a bank bailout, there probably would have been a worldwide depression.

The single most remarkable (and revealing) fact of the Obama presidency may very well be the lack of a single prosecution of Wall Street executives for the massive fraud that precipitated the 2008 financial crisis.

Most of us are aware of the sacrificial slaughter of Bear Sterns. Some people call it a bailout, but I call it a handout - a government handout to some of the richest people on Earth, paid for by American taxpayers.

Governments need to be authorized to provide 'open bank assistance.' The convolutions of Dodd-Frank aimed at 'avoiding' this tactic are ludicrous and will prove to be extremely costly to the system.

As we try to make the financial system safer, we must inevitably confront the problem of moral hazard.

Tea Party people know that I stood against the Wall Street scam from Day One, that I voted against TARP, that I voted against repealing Glass-Steagall Act that kept these guys under some control.

What Obama is saying is simple: The United States has become Too Big To Fail.