100 quotes from the global financial crisis: lessons for the future

Ozili, Peterson K (2020): 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 United States where it all began. In an effort to shed new light on the global financial crisis, it has become important to present a view of the financial crisis from the lens of those who were affected by the 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 chapter are concise, useful and thought provoking. They create an opportunity to help reconsider the events of 2008 from a fresh perspective, so that a lot more can be done by everyone, including banks, governments and citizens, to prevent a repeat of those events in the future of finance. Finally, most of the views or quotes reported in this chapter have within them some important lessons and wisdom to guide us on what to do before another future crisis comes.

• Item Type: MPRA Paper
• Language: English
• Keywords: systemic risk; financial crisis; bank failure; too-big-to-fail; government bailouts; central banks; banks; recessions
• Subjects: G - Financial Economics > G2 - Financial Institutions and Services > G21 - Banks ; Depository Institutions ; Micro Finance Institutions ; Mortgages; G - Financial Economics > G2 - Financial Institutions and Services > G28 - Government Policy and Regulation

References

Brunnermeier, M., Crockett, A., Goodhart, C.A., Persaud, A. and Shin, H.S., 2009. The fundamental principles of financial regulation (Vol. 11). ICMB, Internat. Center for Monetary and Banking Studies.

Mayer, C., 2008. Trust in financial markets. European Financial Management, 14(4), pp.617-632.

Tomasic, R. and Akinbami, F., 2011. The role of trust in maintaining the resilience of financial markets. Journal of Corporate Law Studies, 11(2), pp.369-394.

Zandi (2008) Financial shock. In: Eds Zandi, M., Satyajit Das, S., and Authers, J. The Financial Crisis in Perspective (Collection). Financial Times.