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Wednesday, March 21, 2012

Inside Job

  • Christine Lagarde: The financial industry is a service industry. It should serve others before it serves itself.
  • Christine Lagarde: And l clearly remember telling Hank: 'We are watching this tsunami coming, and you're just proposing that we ask: "which swimming costume we're going to put on."'
    interviewer: What was his response? What was his feeling?
    Christine Lagarde: 'Things are under control. Yes, we are looking at this situation carefully, and, yeah, it's under control.'
  • Andrew Sheng: Why should a financial engineer be paid four times to 100 times more than a real engineer? A real engineer build bridges. A financial engineer build dreams. And, you know, when those dreams turn out to be nightmares, other people pay for it 
  • Narrator: For the first time in history, average Americans have less education and are less prosperous than their parents.
  • Michael Capuano: You come to us today telling us "We're sorry. We won't do it again. Trust us". Well i have some people in my constituency that actually robbed some of your banks, and they say the same thing. 
  • Willem Buiter: Why do you have big banks? Well, because banks like monopoly power; because banks like lobbying power; because, banks know that when they're too big, they will be bailed.