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What the world's big guns say about the meltdown
October 17, 2008
We now have to get serious about reconstructing normal government that pays its way and a normal financial sector that's properly regulated: Former Harvard University economist Jeffrey Sachs, now special adviser to the UN Secretary-General, Ban Ki-moon
Surveillance (by the IMF) already exists today but it doesn't stretch widely enough to all financial questions: Dominique Strauss-Kahn, head, IMF
It’s one overreaction on top of many others, and I think we can look forward to many more overreactions. Does this signal the bottom of the equity market? I don’t know. All I know is that this collapse is irrational: Mark Zandi, chief economist, Moody’s Economy.com
Regulators are helping us to identify the quickest and most efficient method to purchase equity in financial institutions so they can resume lending. Throughout this process, we have kept in mind one clear priority: to protect the taxpayers by making the best use of their money: Neel Kashkari, interim assistant secretary for financial stability, US
The base problem is that for CEOs of major public corporations, risk and reward have been decoupled. Stock compensation has become a lottery ticket. Any sane CEO is going to take whatever chances he or she needs to walk away with enough money to retire nicely on. Why wouldn't they?: Mark Cuban, US billionaire
Image: Neel Kashkari, Interim US Assistant Secretary for Financial Stability. | Rediff.com file photograph
Also read: Why Warren Buffett invested in Goldman Sachs
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