Top 10 Quotes of the Second Quarter

by Derek Loosvelt | June 22, 2009

10. "I'm unemployed, I don't have any money, and I'm just trying to stay out of jail—my name is mud."
—Andrew Madoff , son of Bernie, lamenting to an African-American friend, who replied, "Well, now you're just like every black man in America."

9. "I have guys coming in here saying, ‘I don’t want to look like a banker anymore.'"
—Eric Goldstein, an owner of premium denim store Jean Shop who is now giving advice on how to look like a "creative professional"

8. "We accepted TARP funding because we believed it was in the best interests of our financial system and our country, even though our company did not need the capital."
— Jamie Dimon, JPMorgan Chase CEO, in a statement upon his firm repaying its TARP funds

7. "I wouldn’t use the word bailout or federal … I would say we’re in close consultation with the people who are looking at ways to make sure these markets are working so that states and munis can meet their needs."
—Treasury Secretary Timothy Geithner on the state of California’s request for TARP money

6. "Here's a shock. When hedge funds, pension funds, mutual funds, and individuals, including very sweet grandmothers, lend their money they expect to get it back. However, they know, or should know, they take the risk of not being paid back."
— Cliff Asness, managing and founding principal of AQR Capital Management, LLC, in an open letter

5. "I've always lived very frugally … I've always been more in touch with the maître d' and the valet than the CEO."
—Sir Robert Allen Stanford , recently indicted on charges of criminal conspiracy to commit mail, wire and securities fraud (on which his firm gained about $7 billion), in an interview with ABC News

4. "It was a lot like doing dishes … just when you think you are done, and just as you are putting the last plate away, a whole new set of plates comes forward."
— Diana Farrell, deputy director of the National Economic Council, about helping to create President Obama’s new financial-sector regulations

3. "Wall Street seems to maybe have a shorter memory about how close we were to the abyss than I would have expected."
—President Barack Obama responding to criticism of the government’s growing role in the economy and markets

2. "I don't know anything about cars … a business is a business, and I think I can learn about cars. I'm not that old, and I think the business principles are the same."
—Edward Whitacre, the new chairman of General Motors Corp.

1. "Simply put, we are going to get our groove back."
—Paula Reynolds, AIG's vice chairwoman and head of the ailing insurance company’s restructuring effort

Filed Under: Finance


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