We are inheriting the worst financial system since the Depression. We're inheriting a situation - when people go back and study major banking crises a quarter century from now, the one that America developed in 2007 and 2008 is going…

Quote by Larry Summers

Topics: Larry Summers Quotes

The dramatic modernization of the Asian economies ranks alongside the Renaissance and the Industrial Revolution...

The dramatic modernization of the Asian economies ranks alongside the Renaissance and the Industrial Revolution...

Blaming speculators as a response to financial crisis goes back at least to the Greeks....

Blaming speculators as a response to financial crisis goes back at least to the Greeks....

The United States basically accepted protection abroad as the price of post-war recovery. Now, that...

The United States basically accepted protection abroad as the price of post-war recovery. Now, that...

In this age of electronic money, investors are no longer seduced by a financial 'dance...

In this age of electronic money, investors are no longer seduced by a financial 'dance...

It used to be said that when the U.S. sneezed, the world caught a cold....

It used to be said that when the U.S. sneezed, the world caught a cold....

In politics, as in poetry, it is sometimes true that it is darkest before dawn.

In politics, as in poetry, it is sometimes true that it is darkest before dawn.

Start with the idea that you can't repeal the laws of economics. Even if they...

Start with the idea that you can't repeal the laws of economics. Even if they...

Blaming speculators as a response to financial crisis goes back at least to the Greeks....

Blaming speculators as a response to financial crisis goes back at least to the Greeks....

Now is the time for us to strike. We must strengthen our foothold in Asia,...

Now is the time for us to strike. We must strengthen our foothold in Asia,...

The dramatic modernization of the Asian economies ranks alongside the Renaissance and the Industrial Revolution...

The dramatic modernization of the Asian economies ranks alongside the Renaissance and the Industrial Revolution...

Global capital markets pose the same kinds of problems that jet planes do. They are...

Global capital markets pose the same kinds of problems that jet planes do. They are...

It was wrong to allow Stalin to shape the European landscape of the 20th century....

It was wrong to allow Stalin to shape the European landscape of the 20th century....

The United States basically accepted protection abroad as the price of post-war recovery. Now, that...

The United States basically accepted protection abroad as the price of post-war recovery. Now, that...

You can't have a situation in which companies proceed on a permanent basis relying only...

You can't have a situation in which companies proceed on a permanent basis relying only...

It says something about this new global economy that USA Today now reports every morning...

It says something about this new global economy that USA Today now reports every morning...

It was wrong to allow Stalin to shape the European landscape of the 20th century....

It was wrong to allow Stalin to shape the European landscape of the 20th century....

In this age of electronic money, investors are no longer seduced by a financial 'dance...

In this age of electronic money, investors are no longer seduced by a financial 'dance...

Rashness belongs to youth; prudence to old age.

Rashness belongs to youth; prudence to old age.

I am, as I've said, merely competent. But in an age of incompetence, that makes...

I am, as I've said, merely competent. But in an age of incompetence, that makes...

I will never give in to old age until I become old. And I'm not...

I will never give in to old age until I become old. And I'm not...

The tooth fairy teaches children that they can sell body parts for money.

The tooth fairy teaches children that they can sell body parts for money.