100 Quotes from the Global Financial Crisis: Lessons for the Future

Abstract

The finance literature has not documented the feeling, the shock and the pain that ordinary people had to go through during the 2008 global financial crisis especially in the U.S. where it all began. It is important to present a view of the financial crisis from the lens of those that were affected by the global financial crisis, those who were responsible for the crisis, those who could have prevented the crisis, as well as the views of other observers. The views or quotes in this article are concise, useful and thought-provoking. They create an opportunity to reconsider the events of 2008 from a fresh perspective, so that a lot more can be done by everyone, including banks, financial institutions, governments and citizens, to prevent a repeat of such events in the future of banking and finance. Finally, most of the views or quotes reported in this article have within them some important lessons and wisdom to guide us on what to do before another future financial crisis comes.

Keywords: systemic risk, financial crisis, bank failure, too big to fail, government bailouts, central banks, banks, banking and finance, recessions, global financial crisis, 100 quotes

JEL Classification: G21, G28