Always Quote by Peter Schiff
“My mother always taught me that two wrongs don't make a right. We shouldn't bail out Wall Street. We shouldn't bail out Detroit. It will cost the economy more than the cost of the bailout which is more than the politicians think. We'll run into the hundred of millions to prop these companies up.”
About This Quote
Source Interview: Economic Outlook, Peter Schiff, 2023
Bailing out large firms costs more than the bailout itself, harming the economy; moral hazard outweighs short‑term relief.
In simple terms: Rescues are expensive and risky.
Key Takeaway
Avoid bailouts; seek sustainable solutions.
Themes
economics
policy
morality
Mood
critical
analytical
Type
political
economic
When to use this quote
- government budgeting
- investment strategy
- public debate
- financial planning
Key Concepts
fiscal responsibility
market dynamics
political risk
Questions to Reflect On
- Is there a scenario where a bailout is justified?
- How can alternatives be made viable?
A Different Perspective
Short‑term crises may demand immediate action.
![“We are headed for a much morse financial crisis than the one we experienced in '08 [2008] and we are headed for a much greater recession than we lived through following that crisis; the one we called the Great Recession. And what's going to make it so much worse is, it's going to be inflationary…” quote by Peter Schiff](https://sms4smile.com/quotes/img-quotes/201/peter-schiff-8095_bailout_we-are-headed-for-a-much-morse-financial_1627972.jpg)
![“This ... he largest financial bailout in history ... was not just a bailout of SVB [Silicon Valley Bank]. It was a bailout of over fifty thousand SVB depositors with over $170 billion in deposits. It was a bailout of SVB's customers, it's employees, their suppliers, and the entire high-tech…” quote by James Rickards](https://sms4smile.com/quotes/img-quotes/385/james-rickards-25234_around-the-world_this-he-largest-financial-bailout-in-his_360776.jpg)
