QUOTES OF THE DAY

“The risk that the economy has entered a substantial downturn appears to have diminished over the past month or so.”

Ben Bernanke – June 10, 2008

“It is not the responsibility of the Federal Reserve – nor would it be appropriate – to protect lenders and investors from the consequences of their financial decisions.”

Ben Bernanke – October 31, 2007

“All that said, given the fundamental factors in place that should support the demand for housing, we believe the effect of the troubles in the subprime sector on the broader housing market will likely be limited, and we do not expect significant spillovers from the subprime market to the rest of the economy or to the financial system. The vast majority of mortgages, including even subprime mortgages, continue to perform well. Past gains in house prices have left most homeowners with significant amounts of home equity, and growth in jobs and incomes should help keep the financial obligations of most households manageable.”

Ben Bernanke – May 17, 2007

“At this juncture, however, the impact on the broader economy and financial markets of the problems in the subprime market seems likely to be contained. In particular, mortgages to prime borrowers and fixed-rate mortgages to all classes of borrowers continue to perform well, with low rates of delinquency.”

Ben Bernanke – March 28, 2007

“Despite the ongoing adjustments in the housing sector, overall economic prospects for households remain good. Household finances appear generally solid, and delinquency rates on most types of consumer loans and residential mortgages remain low.”

Ben Bernanke – February 15, 2007

“With respect to their safety, derivatives, for the most part, are traded among very sophisticated financial institutions and individuals who have considerable incentive to understand them and to use them properly.”

Ben Bernanke – November 15, 2005

 


Leave a Reply

avatar
  Subscribe  
Notify of

Discover more from The Burning Platform

Subscribe now to keep reading and get access to the full archive.

Continue reading