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What the world's big guns say about the meltdown
October 17, 2008
The reality is that the federal government cannot save every failing company, nor should it try. America can't afford it, and it's bad policy. Capitalism is based on risk, and if we guarantee every firm that fails, we encourage bad risks and end up with more bailouts: Mike Bloomberg, mayor, New York, former Wall Streeter, founder, financial services company Bloomberg
The British government went straight to the heart of the problem -- and moved to address it with stunning speed. It has shown itself willing to think clearly about the financial crisis, and act quickly on its conclusions. And this combination of clarity and decisiveness hasn’t been matched by any other Western government, least of all our own: Paul Krugman, Economics Nobel laureate
They were putting the Good Housekeeping seal of approval on crap: John P Sean Coffey, attorney with Bernstein Litowitz Berger & Grossmann, New York
Fastening your seat belts may not be enough for this ride. Better superglue yourselves to the floorboards and pray for God's mercy: James Howard Kunstler, American author and social critic
In an interconnected world, no nation will gain by driving down the fortunes of another. We are in this together. We will come through it together. There have been moments of crisis in the past when powerful nations turned their energies against each other or sought to wall themselves off from the world. This time is different: George W Bush, President, US
Image: US President George W Bush. | Photograph: Mark Wilson/Getty Images
Also read: All about the US bailout plan
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