Wall Street Quotes

Quotes tagged as "wall-street" Showing 1-30 of 96
Matt Taibbi
“In a society governed passively by free markets and free elections, organized greed always defeats disorganized democracy.”
Matt Taibbi, Griftopia: Bubble Machines, Vampire Squids, and the Long Con That Is Breaking America

“Millionaires don't use Astrology, billionaires do.”
J.P. Morgan

Warren Buffett
“I will tell you the secret to getting rich on Wall Street. You try to be greedy when others are fearful. And you try to be fearful when others are greedy.”
Warren Buffett

Michael   Lewis
“The CDO was, in effect, a credit laundering service for the residents of Lower Middle Class America. For Wall Street it was a machine that turned lead into gold.”
Michael Lewis, The Big Short: Inside the Doomsday Machine

Michael   Lewis
“When you’re a conservative Republican, you never think people are making money by ripping other people off,” he said. His mind was now fully open to the possibility. “I now realized there was an entire industry, called consumer finance, that basically existed to rip people off.”
Michael Lewis, The Big Short: Inside the Doomsday Machine

Matt Taibbi
“The mistake our politicians so often make with these industry leaders is in thinking they are interested in, or respectful of, the power of government. All they want is to keep stealing. If you can offer them the government’s seal of approval on that, they’ll take it. But if you can’t, well, they’ll take that too.”
Matt Taibbi, Griftopia: Bubble Machines, Vampire Squids, and the Long Con That Is Breaking America

Tom Wolfe
“Sir Gerald Moore: I was at dinner last evening, and halfway through the pudding, this four-year-old child came alone, dragging a little toy cart. And on the cart was a fresh turd. Her own, I suppose. The parents just shook their heads and smiled. I've made a big investment in you, Peter. Time and money, and it's not working. Now, I could just shake my head and smile. But in my house, when a turd appears, we throw it out. We dispose of it. We flush it away. We don't put it on the table and call it caviar.”
Tom Wolfe, The Bonfire of the Vanities

Andrew Ross Sorkin
“While the financial crisis destroyed careers and reputations, and left many more bruised and battered, it also left the survivors with a genuine sense of invulnerability at having made it back from the brink. Still missing in the current environment is a genuine sense of humility.”
Andrew Ross Sorkin, Too Big to Fail: The Inside Story of How Wall Street and Washington Fought to Save the Financial System from Crisis — and Themselves

Michael   Lewis
“I thought instead of a good rule for survival on Wall Street: Never agree to anything proposed on someone else's boat or you'll regret in in the morning.”
Michael Lewis, Liar's Poker

Eugene O'Neill
“But land is land, and it's safer than the stocks and bonds of Wall Street swindlers.”
Eugene O'Neill, Long Day's Journey into Night

John Kenneth Galbraith
“Wisdom, itself, is often an abstraction associated not with fact or reality but with the man who asserts it and the manner of its assertion.”
John Kenneth Galbraith, The Great Crash of 1929

“I spent 33 years and 4 months in active military service . . . And during that period I spent most of my time as a high-class muscle man for Big Business, for Wall Street and the bankers. In short, I was a racketeer, a gangster for capitalism.

Thus, I helped make Mexico and especially Tampico safe for American oil interests in 1914. I helped make Haiti and Cuba a decent place for the National City Bank boys to collect revenues in. I helped in the raping of half a dozen Central American republics for the benefit of Wall Street.

I helped purify Nicaragua for the international banking house of Brown Brothers in 1902–1912. I brought light to the Dominican Republic for American sugar interests in 1916. I helped make Honduras right for American fruit companies in 1903. In China in 1927, I helped see to it that Standard Oil went on its way unmolested.

Our boys were sent off to die with beautiful ideals painted in front of them. No one told them that dollars and cents were the real reason they were marching off to kill and die.”
General Smedley Butler

Michael   Lewis
“A credit default swap was confusing mainly because it wasn’t really a swap at all. It was an insurance policy, typically on a corporate bond, with semiannual premium payments and a fixed term. For instance, you might pay $200,000 a year to buy a ten-year credit default swap on $100 million in General Electric bonds. The most you could lose was $2 million: $200,000 a year for ten years. The most you could make was $100 million, if General Electric defaulted on its debt any time in the next ten years and bondholders recovered nothing. It was a zero-sum bet: If you made $100 million, the guy who had sold you the credit default swap lost $100 million. It was also an asymmetric bet, like laying down money on a number in roulette. The most you could lose were the chips you put on the table; but if your number came up you made thirty, forty, even fifty times your money.”
Michael Lewis, The Big Short: Inside the Doomsday Machine

Oliver Stone
“Man looks in the abyss, there’s nothing staring back at him. At that moment, man finds his character. And that is what keeps him out of the abyss.”
Oliver Stone, Wall Street

Douglas Rushkoff
“We were taking out mortgages we couldn’t afford because they were camouflaged to look as if we had a reasonable chance of paying them back. Banks then changed the bankruptcy laws so that we could not get out of our obligations once the rates changed. Lastly, they sold us back our own mortgages, shifting back to us any of the risk through our money-market accounts and pension funds.”
Douglas Rushkoff, Life Inc.: How the World Became a Corporation and How to Take it Back

Oliver Stone
“Stop going for the easy buck and produce something with your life. Create instead of living off the buying and selling of others.”
Oliver Stone, Wall Street

Craig D. Lounsbrough
“If your portfolio is made up of the investments that you have made in the lives of people, you will have amassed a wealth so vast that all the portfolios that will ever float the trading floor on Wall Street would, by comparison, be reckoned as nothing. And if by chance we dared to live by this truth, we would in fact would love like none other.”
Craig D. Lounsbrough

Elon Musk
“I mean, I think that if people are concerned about volatility, they should definitely not buy our stock. I’m not here [on an earnings call] to convince you to buy [Tesla] stock. Do not buy it if volatility is scary. There you go.”
Elon Musk

“The only reason to save money is to invest it.”
Oscar Auliq-Ice

“Millions wish for financial freedom, but only those that make it a priority have millions.”
Oscar Auliq-Ice

“No matter whom the people elect, you always get JP Morgan and Goldman Sachs in charge. the shit going on is unbelievable. all to save massively overpriced assets.”

Turney Duff
“Who do you think is in upper management? Who's pulling all the strings? It's the 105ws. (What's the 10th letter of the alphabet? The 5th letter alphabet?)”
Turney Duff, The Buy Side: A Wall Street Trader's Tale of Spectacular Excess

Noel Marie Fletcher
“My first trip to the mainland came after I had been traveling extensively in Asia on reporting assignments for The Journal of Commerce newspaper, located at that time on Wall Street in New York City.”
Noel Marie Fletcher, My Time in Another World: Experiences as a Foreign Correspondent in China

“…the end of the Cold War has brought not prosperity for all but a pitiless economic struggle for pole-position on the food chain of information capitalism. The neoliberalism and neocolonialism of the 1990s are the direct heir of the Manchester liberalism and colonialism of the 1890s, the only difference being that whereas Victorian rentiers extracted their Imperial textile-rents from the labor of the Great Unwashed, their postmodern analogues on Wall Street speculate on the viewing-rents of the Great Unwatched.”
Dennis Redmond, The World is Watching: Video as Multinational Aesthetics, 1968-1995

“Secondly, there’s no question but that the speculative drive of the post-structuralisms and postmodernisms harmonized, on some deep level, with the real life financial speculations of Wall Street. At their best, the postmodernisms were the critical meditation and reflection upon those speculations (as with Jameson’s classic essay on postmodernism); at their worst, they were little more than the media-chatter of academic superstars shielded from the grim realities of economic austerity, skyrocketing tuition and rampant privatization – realities which had begun to undercut the very existence of autonomous national literary, philosophical and cultural departments, as tenured and full-time positions were slashed to make way for vast pools of contingent and adjunct academic workers.”
Dennis Redmond, The World is Watching: Video as Multinational Aesthetics, 1968-1995

“Wall Street owns the country. It is no longer a government of the people, by the people, and for the people, but a government of Wall Street, by Wall Street, and for Wall Street.”
Mary Ellen Lease

Christopher Manske
“Wall Street treats all crises the same despite the fact that people react to the threat of war very differently from other crises like disease, systemic medical incompetence, or the failure to maintain a country’s transportation infrastructure.”
Christopher Manske, The Prepared Investor: How to Prevent the Next Crisis from Affecting Your Financial Independence

“At one time, I worked for a 401k retirement Plan company that handled retirement plans for Transamerica, Vanguard, and all others 401k and IRA corporations operating in America. I can tell you, first hand, that retirement plans are a scam designed to make investors money without spending a dime of their own money.”
James Thomas Kesterson Jr

A.D. Aliwat
“America is the most masculine nation-state that’s ever existed. America is more like Wall Street. Mean as hell, straight, big dick swinging, winner-takes-all mindset.”
A.D. Aliwat, In Limbo

“But something changed in the 1980s, when Wall Street itself went from being a service industry - lucrative and powerful but still client centered and partner-oriented - to being an industry in its own right. Then, no longer tethered by the risk to their own money, these newly flush public companies, and many private ones that benefited from the efflorescence of money in the frothy public markets, started to think of themselves as product makers and profit centers in their own right. They started to expect excessive returns and outsized compensation, and they took on levels of risk that in time came to imperil the whole system because they were without fear of substantial personal loss.”
Zachary Karabell, Inside Money: Brown Brothers Harriman and the American Way of Power

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