Market Collapse Quotes

If you destroy a free market you create a black market.

The current financial crisis in the US is likely to be judged in retrospect as the most wrenching since the end of the Second World War.

When someone says, `Let's impose tariffs on foreign imports,' it looks like they're doing the patriotic thing by protecting American products and jobs. And sometimes for a short while it works - but only for a short time....over the long run such trade barriers hurt every American worker and consumer. Markets shrink and collapse; businesses and industries shut down; and millions of people lose their jobs.

When the 1929 crash wiped out disposable income, there were not enough consumers to fuel a recovery.

I did not forsee a day where the government had to intervene to bail out basically everybody.

What's so seductive about the efficient markets hypothesis is that it applies nine years out of ten. A lot of the time it works. But when it stops working, you blow up.

From time to time, capitalism has a tendency to implode.

Wall Street excesses helped lead to the Great Recession.

I understand how important the automakers are to America. And I understand a bankruptcy; a failure in that industry wouldn't be a good thing. It's something we should avoid.

If I were the treasury secretary or head of the Fed, you know, I would try to scare the hell the out of the private sector and say, you better save this because you're going down with the ship.

These heroes of finance are like beads on a string; when one slips off, all the rest follow.

Capitalism doesn't function when it starts to contract, and we can see that quite clearly right here in the eurozone. It's like pushing a giant monster under water that's gasping for air. It goes nuts.

When the housing market fell in Las Vegas, we got so many Rolex and Tag Heuer watches it was ridiculous.

The world of derivatives is full of holes that very few people are really aware of. It's like hydrogen and oxygen sitting on the corner waiting for a little flame.

The crisis is the price for the capitalist system

Booms are great while they last but they don’t last forever.

Most investors give too much credence to the theory that prices are rational; they presume that a market collapse must have been justified by serious economic trouble.

If AIG had tried to unwind their derivatives books. I don't know. It would have hit every institution in the world.

I believe the only things that really matter in investing are the bubbles and the busts

Atari is a very sad story.

Gentleman, you have come sixty days too late. The depression is over.

The Internet bubble circa 2000 is the most extreme in modern capitalism. In the 1930s, we had the worst depression in 600 years. Today is almost as extreme in the opposite way.

The assumption that Washington could and would resolve Lehman Brothers without a bankruptcy, as it had Bear Stearns, was the single biggest mistake in the series of mistakes in 2007 and 2008 that led to the financial panic and the ensuing epidemic of job losses.

Concentrating wealth in the hands of the few and deregulating financial institutions and practices lead to speculative bubbles that eventually burst - and that brings the whole country down.

Those of us who have looked to the self-interest of lending institutions to protect shareholders’ equity, myself included, are in a state of shocked disbelief