Economy Watch Archive for Quotables

Dec. 16, 2008

A very skillful criminal can almost always outfox the regulator or the overseer." — Former SEC chairman Arthur Levitt, who knew and worked with Bernard L. Madoff....

By washingtonpost.com Editors | December 16, 2008; 07:31 AM ET | Comments (1)

Dec. 12, 2008

We could work for nothing and it wouldn't help GM make it to January." — United Auto Workers president Ron Gettelfinger...

By washingtonpost.com Editor | December 12, 2008; 12:02 PM ET | Comments (0)

Dec. 11, 2008

A lot of struggling Americans are wondering where their bailout is." — Sen. Mitch McConnell (R-Ky.) speaks out against the auto bailout bill....

By washingtonpost.com Editor | December 11, 2008; 02:02 PM ET | Comments (0)

Dec. 8, 2008

We call this a barbershop. Everyone is getting haircuts." — House Speaker Nancy Pelosi (D-Calif.) on how auto executives, shareholders, dealers and employees will be expected to make concessions....

By washingtonpost.com Editor | December 9, 2008; 09:37 AM ET | Comments (1)

This is our largest industry. Are we going to watch it melt down by Christmastime? Because that's what we're facing." — Jeffrey Sachs, Columbia University economist and author, on the fate of the auto industry....

By washingtonpost.com Editor | December 5, 2008; 03:38 PM ET | Comments (0)

Dec. 4, 2008

We're sorry to be asking for this support. We wish the market conditions were better. They're not, so this is what we need to do." — GM Chairman Rick Wagoner...

By washingtonpost.com Editor | December 4, 2008; 01:51 PM ET | Comments (1)

Dec. 2, 2008

Before any taxpayer money is provided, the American people deserve to know how the Big Three plan to survive the current crisis, become competitive companies once again, and eventually repay taxpayer loans." — House Majority Leader Steny H. Hoyer...

By washingtonpost.com Editor | December 2, 2008; 05:20 PM ET | Comments (0)

Nov. 26, 2008

The reality is that sometimes policymaking in Washington can become too insular." — President-elect Barack Obama on why he created an economic advisory board....

By washingtonpost.com Editor | November 26, 2008; 12:05 PM ET | Comments (0)

Nov. 25, 2008

I wish, and I know you all wish, there was sort of one action we could take and the economy would turn around and the financial system would be in the kind of shape we'd like it to be...

By washingtonpost.com Editor | November 25, 2008; 01:46 PM ET | Comments (0)

Nov. 24, 2008

We have made these kind of decisions in the past. We made one last night. And if need be we will make these kinds of decisions to safeguard our financial system in the future." — President Bush on the...

By washingtonpost.com Editor | November 24, 2008; 11:12 AM ET | Comments (1)

Nov. 21, 2008

We understand the symbolic issue of people showing up in Washington in corporate jets." — GM spokesman Tom Wilkinson on the recent backlash....

By washingtonpost.com Editor | November 21, 2008; 01:15 PM ET | Comments (1)

Nov. 18, 2008

The purpose of the financial rescue legislation was to stabilize our financial system and to strengthen it. It is not a panacea for all our economic difficulties." — Treasury Secretary Henry Paulson, Nov. 18...

By washingtonpost.com Editor | November 18, 2008; 12:18 PM ET | Comments (1)

Nov. 17, 2008

Opening the TARP program to firms outside the financial sector is a slippery slope... If automakers receive assistance from the TARP program, other industries will follow... Every dollar taken from the TARP program for other industries is one dollar...

By washingtonpost.com Editor | November 17, 2008; 04:34 PM ET | Comments (0)

Nov. 14, 2008

We in many ways humiliated ourselves as a nation." — Treasury Secretary Henry Paulson to CNBC's Erin Burnett, Nov. 14...

By washingtonpost.com Editor | November 14, 2008; 03:04 PM ET | Comments (0)

Nov. 12, 2008

I just can't tell you how many proposals I've looked at to modify mortgages and keep people in their homes...This is a very complicated area. There are no easy answers." — Treasury Secretary Henry Paulson, Nov. 12...

By washingtonpost.com Editor | November 12, 2008; 05:09 PM ET | Comments (1)

Nov. 11, 2008

Foreclosures have increased 150 percent in the past two years...We need to stop this downward spiral." — James Lockhart III, head of the Federal Housing Finance Agency, Nov. 11...

By washingtonpost.com Editor | November 11, 2008; 04:38 PM ET | Comments (0)

Nov. 6, 2008

Regulators must be strong cops on the beat rather than turn a blind eye to reckless lending practices...Markets cannot police themselves." — Sen. Chris Dodd (D-Conn.), Chairman of the Senate Banking committee, Nov. 6...

By washingtonpost.com Editor | November 6, 2008; 07:02 PM ET | Comments (2)

Nov. 3, 2008

Perhaps the recent mortgage cycle will be remembered as just another failed episode of financial innovation." — Federal Reserve Chairman Ben Bernanke, Oct. 31....

By washingtonpost.com Editor | November 3, 2008; 04:06 PM ET | Comments (1)

Oct. 31, 2008

When it walks and quacks like a recession duck, it is a recession duck." — Economist Nouriel Roubini to Congress's Joint Economic Committee, Oct. 30....

By washingtonpost.com Editor | October 31, 2008; 08:03 AM ET | Comments (0)

Oct. 24, 2008

You know, that's precisely the reason I was shocked, because I have been going for 40 years or more with very considerable evidence that it was working exceptionally well." — Former Fed Chairman Alan Greenspan on how the crisis...

By washingtonpost.com Editor | October 24, 2008; 07:30 AM ET | Comments (0)

Oct. 23, 2008

When the referee is being paid by the players, no one should be surprised when the game spins out of control...You have so screwed up the ratings as to not be believable." — Rep. Christopher Shays (R-Conn.) to the...

By washingtonpost.com Editor | October 23, 2008; 07:38 AM ET | Comments (1)

Oct. 22, 2008

There will be some situations where it's best for the economy and for the banking system for there to be a consolidation." — Treas. Sec. Henry Paulson on "Charlie Rose," Oct. 21...

By washingtonpost.com Editor | October 22, 2008; 09:45 AM ET | Comments (0)

Oct. 17, 2008

As a strong believer in free markets, I would oppose such measures under ordinary circumstances. But these are not ordinary circumstances. We took this measure as a last resort." — President Bush, Oct. 17...

By washingtonpost.com Editor | October 17, 2008; 06:59 PM ET | Comments (5)

October 16, 2008

We're not proud of all the mistakes that were made by many different people, different parties, failures of our regulatory system, failures of market discipline that got us here." Treasury Secretary Henry M. Paulson, Oct. 16...

By washingtonpost.com Editors | October 16, 2008; 05:32 PM ET | Comments (2)

Oct. 15, 2008

Stabilization of the financial markets is a critical first step, but even if they stabilize as we hope they will, broader economic recovery will not happen right away." Fed Chairman Ben S. Bernanke, Oct. 15...

By washingtonpost.com Editor | October 15, 2008; 04:18 PM ET | Comments (3)

Quotables

A program as large and complex as this would normally take months -- or even years -- to establish...We don't have months or years." Neel Kashkari, interim assistant Treasury secretary for financial stability....

By Bob Greiner | October 9, 2008; 01:33 PM ET | Comments (1)