Financial System Stability Quotes

The process by which banks create money is so simple that the mind is repelled.

Remonetisation has happened at a fast pace, and that was part of the plan that, subsequent to the withdrawal of the specified bank notes, our production plans and supply processes would ensure that the remonetisation happened as quickly as possible.

I think we're fooling ourselves if we think that regulators are going to be able to outsmart the bankers. So, the task of designing regulatory reform is trying to make more or less foolproof regulation and that's one of the advantages of the systemic category.

I don't support going back to Glass-Steagall as is.

Conservatives may believe that impoverished borrowers destroyed Wall Street. But we liberals will not fool ourselves that stupid bankers sank conservatism for good.

As American citizens, if you believe all banks were bailed out, you would hate banks. I would, too.

Efforts to promote financial stability through adjustments in interest rates would increase the volatility of inflation and employment. As a result, I believe a macro-prudential approach to supervision and regulation needs to play the primary role.

Financial innovation is an oxymoron. It's very rare that there is something that's actually financial innovation. It's a euphemism for hiding leverage.

Dodd-Frank greatly expanded the regulatory reach of the Federal Reserve. It did not, however, examine whether it was correctly structured to account for these new and expansive powers. Therefore, the Committee will be examining the appropriateness of the Fed's current structure in a post Dodd-Frank world.

If a bank fails in China, they behead the men at the top of it that was responsible... If we beheaded all of ours that were responsible for bank failures, we wouldn't have enough people left to bury the heads.

I would say the No. 1 problem with the Volcker Rule is it's too complicated, and people don't know how to interpret it.

Keep in mind that, when I came in, we had had a crisis that was the worst we've seen since the 1930s, and working with people like Chancellor Merkel, working with the G-20 and other institutions internationally, we were able to stabilize the financial system, stabilize the US economy and return to growth.

The Federal Reserve was not founded to bail out Bear Stearns or a few hedge funds. It was founded to keep a stable currency and maintain its value.

Since the global financial crisis and recession of 2007-2009, criticism of the economics profession has intensified. The failure of all but a few professional economists to forecast the episode - the aftereffects of which still linger - has led many to question whether the economics profession contributes anything significant to society.

The prestige of the international financial institutions rates less than zero.

Complexity and interconnectedness matter as much as size in assessing risk in banking.

The policies that Hillary [Clinton] advocates are going to be more of the same, whether you're looking at her cozy relationships with the banks, her refusal to support Glass-Steagall, her vagueness about what actually she's going to do about the control of the big banks.

I do not think you can trust bankers to control themselves. They are like heroin addicts.

Regulation creates a moral hazard.

My concern as a citizen and as a money manager is, Oh my God, at what point does a 'whoa' moment happen to these people who own $30 trillion fixed income instruments?

The Democrats, because they believe in socialism, redistribution, forced the banks and financial institutions to make the risky loans.

It is not my belief that we need greater government regulation of hedge funds with respect to the systemic risk they create.

The Federal Reserve is not charged with designing or evaluating proposals for housing finance reform. But we are responsible for regulating and supervising banking institutions to ensure their safety and soundness, and more broadly for the stability of the financial system.

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

She [Carolyn Maloney] understands the whole picture. She is comfortable with these issues 'cause she is chair of the committee, and she's dogged and will make sure the average woman and man is represented as well as making sure that our financial system stays afloat. In other words, she gets it and she has represented the financial district, but she also represents the average person and definitely the average woman.