Consumer Credit Quotes

Of course I'm troubled by huge consumer debt levels - we've pushed consumer credit very hard in the US. Eventually, if it keeps growing, it will stop growing. As Herb Stein said, "If something cannot go on forever, it will stop." When it stops, it may be unpleasant. Other than Herb Stein's quote, I have no comment. But the things that trouble you are troubling me.

There is simply no way to sustain an economy based on consumer credit.

The electronics industry expanded rapidly and the seeds for the semiconductor and software revolution were planted. The postwar period also saw the suburbanization of America, the rise of the homeowner, the build-out of the interstate highway system, and the rise of automobile culture. Credit availability expanded dramatically.

The Federal Reserve has the responsibility to protect the credit rights of consumers.

Yes, Americans can still get credit for cars and trucks and refrigerators, and those businesses are doing well. But just try to get a home loan now.

I hope we will never again see such a depression. But I am troubled by the huge consumer installment debt which hangs over the people of the nation, including our own people.

There are two issues that people sometimes confuse, but they're very closely related. There is the strength and the stability of the American financial system. And it's very important that that system remain stable and remain strong and lending is very important to consumers. Secondly, the economy. And what has gone on in financial system is impacting the economy. And as the economy is turning down, it is very important that lending continue to be available and be available to consumers. So what we're doing with this facility is to support - is to support consumer lending.

No one lives on credit in France because banks don't allow overdrafts and zero percent credit cards do not exist.

The way the credit cards were made in the '80s to be a people's form of capitalism and be able to make it so that you could get a loan that you would have been denied previous, now that's the way stocks are.

Meaningful rules in the consumer credit market can accelerate economic recovery. Rules would increase consumer confidence and, more importantly, weed out all the tricks and traps that sap families of billions of dollars annually.

I look at subprime lending and I see the American dream in action.

The universe of mortgage lending has gotten to the point where there is a place in it for everybody.

Because the American credit reporting system relies on both good and bad reports of creditworthiness, a consumer must have some kind of credit - not just the absence of bad credit.

Cars, toys, aspirin, meat, toasters, water - nearly every product sold has passed basic safety regulations well in advance of being marketed and sold. But consumer credit is a kind of buyer-beware, wild west. That is partly the result of history.

The biggest challenge for me, for all of us, was that the consumer-credit market was very, very new for India and for ICICI. I was trying to create something that was not just new for me but absolutely unknown to the organization and the country as a whole.

Personal responsibility matters. There are no excuses for those who spend money on things they cannot afford. But it's a whole lot harder to act responsibly when consumer credit contracts are designed to be incomprehensible, when prices are obscure and risks are hidden.

Our main concern is that demand for credit be fulfilled in ways that are actually beneficial to consumers and not harmful to them.

In fact, I bought our first family television with my own money, putting it on credit and then paying it off every week.

Non-bank financial institutions provide credit that is essential to U.S. businesses and consumers.

Pawn shops have been around for thousands of years - they were the number one form of consumer credit up until the 1950s, but we were vilified by Hollywood. We were easy people to vilify.