![]() ![]() For all of us, quotes are a great way to remember a bookĪnd to carry with us the author’s best ideas. For some of us a quote becomes a mantra, a goal or a More via texts, memes and sound bytes, short but profound quotes from books have become Memorable and interesting quotes from great books. ― Andrew Ross Sorkin, quote from Too Big to Fail: The Inside Story of How Wall Street and Washington Fought to Save the Financial System from Crisis - and ThemselvesīookQuoters is a community of passionate readers who enjoy sharing the most meaningful, Of course, he had no way of knowing precisely how or when that would happen, and no amount of studying or preparation could have equipped him to deal with the events that began in early March 2008.” ![]() And they cannot fully insulate the broader financial system from the effects of such a failure.” Geithner understood that the Wall Street boom would eventually falter, and he knew from his experience in Japan that it was not likely to end well. ![]() They have not eliminated the possibility of failure of a major financial intermediary. “They have not ended the tendency of markets to occasional periods of mania and panic. “These changes appear to have made the financial system able to absorb more easily a broader array of shocks, but they have not eliminated risk,” he said in a speech in 2006. “his way of thinking, the spreading of risk could actually exacerbate the consequences of otherwise isolated problems-a view not shared by his original boss at the Fed, Alan Greenspan. ![]()
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