Meanwhile, bank executives bristled — sometimes privately, but often in the press — at any suggestion that they had in any way screwed up, or should … - Barack Obama

" "

Meanwhile, bank executives bristled — sometimes privately, but often in the press — at any suggestion that they had in any way screwed up, or should be subject to any constraints when it came to running their business. This last bit of chutzpah was most pronounced in the two savviest operators on Wall Street, Lloyd Blankfein of Goldman Sachs and Jamie Dimon of JPMorgan Chase, both of whom insisted that their institutions had avoided the poor management decisions that plagued other banks and neither needed nor wanted government assistance. These claims were true only if you ignored the fact that the solvency of both outfits depended entirely on the ability of the Treasury and the Fed to keep the rest of the financial system afloat, as well as the fact that Goldman in particular had been one of the biggest peddlers of subprime-based derivatives — and had dumped them onto less sophisticated customers right before the bottom fell out.

English
Collect this quote

About Barack Obama

Barack Hussein Obama II (born August 4, 1961) is an American politician who served as the 44th president of the United States of America from 2009 to 2017. Born in Hawaii, the son of a Kenyan father and a mother from Kansas, he won the 2008 presidential election and was re-elected president in November 2012. A member of the U.S. Democratic Party, he was the first African American president. Before becoming president, he represented the 13th district for three terms in the Illinois Senate from 1997 to 2004 and served as United States senator from Illinois between January 4, 2005 and November 16, 2008. While president, he was the recipient of the 2009 Nobel Peace Prize.

Biography information from Wikiquote

Also Known As

Birth Name: Barack Hussein Obama II
Also Known As: Barry
Alternative Names: POTUS 44 Barack Hussein Obama Barack H. Obama Barack Hussein Obama, Jr. Barack H Obama Barak Obama Barry Obama Barack Obama II
PREMIUM FEATURE

Advanced Search Filters

Filter search results by source, date, and more with our premium search tools.

Related quotes. More quotes will automatically load as you scroll down, or you can use the load more buttons.

Additional quotes by Barack Obama

As my wife saw it — as most people would see it, I imagine — an unwritten book was hardly a financial plan. “In other words,” she said, “you’ve got some magic beans in your pocket. That’s what you’re telling me. You have some magic beans, and you’re going to plant them, and overnight a huge beanstalk is going to grow high into the sky, and you’ll climb up the beanstalk, kill the giant who lives in the clouds, and then bring home a goose that lays golden eggs. Is that it?” “Something like that,” I said. Michelle shook her head and looked out the window. We both knew what I was asking for. Another disruption. Another gamble. Another step in the direction of something I wanted and she truly didn’t. “This is it, Barack,” Michelle said. “One last time. But don’t expect me to do any campaigning. In fact, you shouldn’t even count on my vote.” — AS A KID, I had sometimes watched as my salesman grandfather tried to sell life insurance policies over the phone, his face registering misery as he made cold calls in the evening from our tenth-floor apartment in a Honolulu high-rise. During the early months of 2003, I found myself thinking of him often as I sat at my desk in the sparsely furnished headquarters of my newly launched Senate campaign

Loading...