---
title: "20 Financial Crises Quotes by 17 authors"
description: "Browse 20 Financial Crises quotes by 17 authors. Discover the best Financial Crises sayings and thoughts."
image: "https://sms4smile.com/quotes/i/e72/timothy-geithner-19996_crises_financial-crises-require-governments-193_1934504.png"
---

> [Financial crises require governments.](https://sms4smile.com/quotes/timothy-geithner/financial-crises-require-governments/)

[Timothy Geithner](https://sms4smile.com/quotes/author/timothy-geithner/)

[Image](https://sms4smile.com/quotes/i/e72/timothy-geithner-19996_crises_financial-crises-require-governments-193_1934504.png)

> [“Financial crises are not natural disasters. They are man-made disasters.”](https://sms4smile.com/quotes/ziad-k-abdelnour/financial-crises-are-not-natural-disasters-they-are-man-made-disasters/)

[Ziad K. Abdelnour](https://sms4smile.com/quotes/author/ziad-k-abdelnour/)

[Image](https://sms4smile.com/quotes/i/298/ziad-k-abdelnour-637_man-made-disasters_financial-crises-are-not-natural-disaste_2070804.jpg)

> [At present, financial crises occur, chiefly because the paper currency is redeemable in gold only.](https://sms4smile.com/quotes/john-buchanan-robinson/at-present-financial-crises-occur-chiefly-because-the-paper-currency/)

[John Buchanan Robinson](https://sms4smile.com/quotes/author/john-buchanan-robinson/)

[Image](https://sms4smile.com/quotes/i/241/john-buchanan-robinson-22642_crisis_at-present-financial-crises-occur-chiefl_2146741.jpg)

> [Financial crises are an unfortunate but necessary consequence of modern capitalism.](https://sms4smile.com/quotes/andrew-lo/financial-crises-are-an-unfortunate-but-necessary-consequence-of/)

[Andrew Lo](https://sms4smile.com/quotes/author/andrew-lo/)

[Image](https://sms4smile.com/quotes/i/750/andrew-lo-24910_capitalism_financial-crises-are-an-unfortunate-but_1593438.png)

> [Financial crises are like fireworks: they illuminate the sky even as they go pop.](https://sms4smile.com/quotes/james-buchan/financial-crises-are-like-fireworks-they-illuminate-the-sky-even-as/)

[James Buchan](https://sms4smile.com/quotes/author/james-buchan/)

[Image](https://sms4smile.com/quotes/i/763/james-buchan-9717_crises_financial-crises-are-like-fireworks-they_2291460.png)

> [“Financial crises—and most other failures of prediction—stem from this false sense of confidence.”](https://sms4smile.com/quotes/nate-silver/financial-crises-and-most-other-failures-of-prediction-stem-from-this/)

[Nate Silver](https://sms4smile.com/quotes/author/nate-silver/)

[Image](https://sms4smile.com/quotes/i/8e3/nate-silver-3166_confidence_financial-crises-and-most-other-failures_686833.jpg)

> [Fiscal crises often turn into financial crises, dealing a blow to the real economy.](https://sms4smile.com/quotes/lee-myung-bak/fiscal-crises-often-turn-into-financial-crises-dealing-a-blow-to-the/)

[Lee Myung-bak](https://sms4smile.com/quotes/author/lee-myung-bak/)

[Image](https://sms4smile.com/quotes/i/332/lee-myung-bak-18109_blow_fiscal-crises-often-turn-into-financial_607794.jpg)

> [Ever since the Great Depression, economists have known that demand shortages tend to persist in the wake of severe financial crises like…](https://sms4smile.com/quotes/bob-frank/ever-since-the-great-depression-economists-have-known-that-demand/)

[Bob Frank](https://sms4smile.com/quotes/author/bob-frank/)

[Image](https://sms4smile.com/quotes/i/a9b/bob-frank-37006_crisis_ever-since-the-great-depression-economis_1197727.jpg)

> [No matter how the financial system is set up, no matter what the economic system is, as long as you have people,…](https://sms4smile.com/quotes/henry-paulson/no-matter-how-the-financial-system-is-set-up-no-matter-what-the/)

[Henry Paulson](https://sms4smile.com/quotes/author/henry-paulson/)

[Image](https://sms4smile.com/quotes/i/d84/henry-paulson-2282_bubbles_no-matter-how-the-financial-system-is-se_705897.jpg)

> [If you thought financial crises came and went, just count on them - another economic collapse, it's almost going to be like…](https://sms4smile.com/quotes/steve-jurvetson/if-you-thought-financial-crises-came-and-went-just-count-on-them/)

[Steve Jurvetson](https://sms4smile.com/quotes/author/steve-jurvetson/)

[Image](https://sms4smile.com/quotes/i/8bc/steve-jurvetson-7311_almost_if-you-thought-financial-crises-came-and_2612390.png)

> [The Death of Money is an engrossing account of the massive stresses accumulating in the global financial system, especially since the 2008…](https://sms4smile.com/quotes/john-h-makin/the-death-of-money-is-an-engrossing-account-of-the-massive-stresses/)

[John H. Makin](https://sms4smile.com/quotes/author/john-h-makin/)

[Image](https://sms4smile.com/quotes/i/74c/john-h-makin-98913_accounts_the-death-of-money-is-an-engrossing-acco_201052.jpg)

> [“My investigation into financial crises provoked me to ask a more sweeping question: What is it about money that we can’t master?…](https://sms4smile.com/quotes/kabir-sehgal/my-investigation-into-financial-crises-provoked-me-to-ask-a-more/)

[Kabir Sehgal](https://sms4smile.com/quotes/author/kabir-sehgal/)

[Image](https://sms4smile.com/quotes/i/bd4/kabir-sehgal-18015_money_my-investigation-into-financial-crises-p_2452309.jpg)

> [From the beginning of time, we've had financial crises. People always blame the banks and for good reason. When you look for…](https://sms4smile.com/quotes/henry-paulson/from-the-beginning-of-time-we-ve-had-financial-crises-people-always/)

[Henry Paulson](https://sms4smile.com/quotes/author/henry-paulson/)

[Image](https://sms4smile.com/quotes/i/eca/henry-paulson-2282_almost_from-the-beginning-of-time-we-ve-had-fin_2142900.jpg)

> [There is a basic lesson on financial crises that governments tend to wait too long, underestimate the risks, want to do too…](https://sms4smile.com/quotes/timothy-geithner/there-is-a-basic-lesson-on-financial-crises-that-governments-tend-to/)

[Timothy Geithner](https://sms4smile.com/quotes/author/timothy-geithner/)

[Image](https://sms4smile.com/quotes/i/ae3/timothy-geithner-19996_crises_there-is-a-basic-lesson-on-financial-cri_2328872.png)

> [The essence of the this-time-is-different syndrome is...rooted in the firmly held belief that financial crises are things that happen to other people…](https://sms4smile.com/quotes/carmen-reinhart/the-essence-of-the-this-time-is-different-syndrome-is-rooted-in-the/)

[Carmen Reinhart](https://sms4smile.com/quotes/author/carmen-reinhart/)

[Image](https://sms4smile.com/quotes/i/963/carmen-reinhart-68139_belief_the-essence-of-the-this-time-is-differen_556414.jpg)

> [The future will be less predictable, forecast rises will shrink, company lifetimes will shrink, new entrants will proliferate and it’s going to…](https://sms4smile.com/quotes/steve-jurvetson/the-future-will-be-less-predictable-forecast-rises-will-shrink-2/)

[Steve Jurvetson](https://sms4smile.com/quotes/author/steve-jurvetson/)

[Image](https://sms4smile.com/quotes/i/67a/steve-jurvetson-7311_business_the-future-will-be-less-predictable-fore_1836159.jpg)

> [In the immediate postwar era, financial crises in advanced countries were rare events, and before 1970 did not happen at all. Since…](https://sms4smile.com/quotes/alan-m-taylor/in-the-immediate-postwar-era-financial-crises-in-advanced-countries/)

[Alan M. Taylor](https://sms4smile.com/quotes/author/alan-m-taylor/)

[Image](https://sms4smile.com/quotes/i/10b/alan-m-taylor-51670_1930s_in-the-immediate-postwar-era-financial-c_119078.jpg)

> [The default assumption is that - financial crises aside - growth will continue indefinitely. Not just for the poorest countries, where a…](https://sms4smile.com/quotes/tim-jackson/the-default-assumption-is-that-financial-crises-aside-growth-will/)

[Tim Jackson](https://sms4smile.com/quotes/author/tim-jackson/)

[Image](https://sms4smile.com/quotes/i/462/tim-jackson-22847_add_the-default-assumption-is-that-financial_1190404.jpg)

> [Anyone interested in the past, present, or future of banking and financial crises should read The Bankers' New Clothes. Admati and Hellwig…](https://sms4smile.com/quotes/michael-j-boskin/anyone-interested-in-the-past-present-or-future-of-banking-and/)

[Michael J. Boskin](https://sms4smile.com/quotes/author/michael-j-boskin/)

[Image](https://sms4smile.com/quotes/i/25c/michael-j-boskin-93581_agree_anyone-interested-in-the-past-present-or_1372219.jpg)

> [“Starting in 1792 with George Washington, there were financial crises every ten to fifteen years. Panics, bank runs, credit freezes, crashes, depressions.…](https://sms4smile.com/quotes/elizabeth-warren/starting-in-1792-with-george-washington-there-were-financial-crises/)

[Elizabeth Warren](https://sms4smile.com/quotes/author/elizabeth-warren/)

[Image](https://sms4smile.com/quotes/i/d2d/elizabeth-warren-879_customer_starting-in-1792-with-george-washington_1741631.png)

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                        "text": "The Death of Money is an engrossing account of the massive stresses accumulating in the global financial system, especially since the 2008 financial crisis. Jim Rickards is a natural teacher. Any serious student of financial crises and their root causes needs to read this book.",
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                        "text": "“My investigation into financial crises provoked me to ask a more sweeping question: What is it about money that we can’t master? There’s something about it that makes us act in bizarre and irrational ways.”",
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                        "text": "From the beginning of time, we've had financial crises. People always blame the banks and for good reason. When you look for the root causes, they're almost always failed government policies.",
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                        "text": "There is a basic lesson on financial crises that governments tend to wait too long, underestimate the risks, want to do too little. And it ultimately gets away from them, and they end up spending more money, causing much more damage to the economy.",
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                        "text": "The essence of the this-time-is-different syndrome is...rooted in the firmly held belief that financial crises are things that happen to other people in other countries at other times; crises do not happen to us, here and now. We are doing things better, we are smarter, we have learned from past mistakes. The old rules of valuation no longer apply. Unfortunately, a highly leveraged economy can unwittingly be sitting with its back at the edge of a financial cliff for many years before chance and circumstance provoke a crisis of confidence that pushes it off.",
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                        "text": "The future will be less predictable, forecast rises will shrink, company lifetimes will shrink, new entrants will proliferate and it’s going to just get more unpredictable. If you thought financial crises came and went, just count on them – another economic collapse, it’s almost going to be like not news any more. But for startups this is great, because it’s a perpetual driver of disruption.",
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                        "text": "In the immediate postwar era, financial crises in advanced countries were rare events, and before 1970 did not happen at all. Since then they have occurred more often, and 2008 was the most damaging of them all to date. If we have moved back to a regime of regular financial crises - like the one we had from the 1870s to the 1930s - then our economic future will be very different from our recent past.",
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                        "text": "The default assumption is that - financial crises aside - growth will continue indefinitely. Not just for the poorest countries, where a better quality of life is undeniably needed, but even for the richest nations where the cornucopia of material wealth adds little to happiness and is beginning to threaten the foundations of our wellbeing.",
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                        "text": "Anyone interested in the past, present, or future of banking and financial crises should read The Bankers' New Clothes. Admati and Hellwig provide a forceful and accessible analysis of the recent financial crisis and offer proposals to prevent future financial failures. While controversial, these proposals--whether you agree or disagree with them--will force you to think through the problems and solutions.",
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                        "text": "“Starting in 1792 with George Washington, there were financial crises every ten to fifteen years. Panics, bank runs, credit freezes, crashes, depressions. People lost their farms, families were wiped out. This went on for more than a hundred years, until the Great Depression, when Oklahoma turned to dust. \"We can do better than this.\" Americans said. \"We don't need to go back to the boom-and-bust cycle.\" The Great Depression produced three regulations: The FDIC-your bank deposits were safe. Glass-Steagall-banks couldn't go crazy with your money. The SEC-stock markets would be tightly controlled. For fifty years, these rules kept America from having another financial crisis. Not one panic or meltdown or freeze. They gave Americans security and prosperity. Banking was dull. The country produced the greatest middle class the world had ever seen.”",
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