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Investment banks manage to go bankrupt through their investment-banking activities, commercial banks manage to go bankrupt through their commercial-banking activities.
Ben Bernanke
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Ben Bernanke
Age: 70
Born: 1953
Born: December 13
Banker
Economist
Politician
Professor
Teacher
Augusta
Georgia
Ben Shalom Bernanke
Benjamin Shalom Bernanke
Banking
Banks
Commercial
Activities
Manage
Investment
Activity
Bankrupt
More quotes by Ben Bernanke
Every effort needs to be made to try and offset the costs of Katrina and Rita by reductions in other government programs, especially those that are wasteful, duplicative and ineffective.
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To avoid large and unsustainable budget deficits, the nation will ultimately have to choose among higher taxes, modifications to entitlement programs such as Social Security and Medicare, less spending on everything else from education to defense, or some combination of the above.
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If you want to understand geology, study earthquakes. If you want to understand the economy, study the Depression.
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The economist John Maynard Keynes said that in the long run, we are all dead. If he were around today he might say that, in the long run, we are all on Social Security and Medicare.
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Economics is a highly sophisticated field of thought that is superb at explaining to policymakers precisely why the choices they made in the past were wrong. About the future, not so much.
Ben Bernanke
I served seven years as the chair of the Princeton economics department where I had responsibility for major policy decisions, such as whether to serve bagels or doughnuts at the department coffee hour.
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Life is amazingly unpredictable any 22-year-old who thinks they know where they will be in 10 years, much less in 30, is simply lacking imagination.
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I am very proud of my nerd-dom.
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I think that having good data, good statistics-and the United States generally has better macroeconomic statistics than most countries-and having good economists to interpret those data and present the policy alternatives, has a substantially beneficial effect on policymaking in the United States.
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Economics is a very difficult subject. I've compared it to trying to learn how to repair a car when the engine is running.
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The more important reason is that the research itself provides an important long-run perspective on the issues that we face on a day-to-day basis.
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If you are asking me if I would advocate that the Chinese go to greater flexibility in their exchange rate, I certainly would.
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Our mission, as set forth by the Congress is a critical one: to preserve price stability, to foster maximum sustainable growth in output and employment, and to promote a stable and efficient financial system that serves all Americans well and fairly.
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The lesson of history is that you do not get a sustained economic recovery as long as the financial system is in crisis.
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Nobody really understands gold prices and I don't pretend to understand them either.
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Under a cold turkey strategy, at each policy meeting the Federal Open Market Committee would make its best guess about where it ultimately wants the funds rate to be and would move to that rate in a single step.
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If Wall Street crashes, does Main Street follow? Not necessarily.
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Education - lifelong education for everyone - from toddlers to workers well advanced in their careers - is indeed an excellent investment for individuals and society as a whole.
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The crisis in Europe has affected the US economy by acting as a drag on our exports, weighing on business and consumer confidence and pressuring US financial markets and institutions.
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I don't think that Chinese ownership of U.S. assets is so large as to put our country at risk economically.
Ben Bernanke
