People’s jobs are the biggest asset that they have. The net present value of your job is worth more than your house or your stock portfolio. As people decide whether they’re going to buy a car, they’re more concerned about whether they have a job and are likely to have a job next year. David Malpass Read Quote
Politicians are addicted to spending and revenue extraction. As with an addict, there’s little pause for moral or legal contemplation. David Malpass Read Quote
The U.S. has a law on the books called the debt limit, but the name is misleading. The debt limit started in 1917 for the purpose of facilitating more national debt, not reducing it. It still serves that purpose. It’s unconnected to spending, hurts our credit rating and has been an abject failure at limiting debt. David Malpass Read Quote
For small businesses, you need less taxes, less federal spending, and you need less regulation that blocks their growth. David Malpass Read Quote
If stocks double but the dollar loses half its value, who beyond Wall Street are the winners and losers? David Malpass Read Quote
The world is constantly in a race to the top, in terms of there’s a limited amount of capital and you’ve got to figure where it’s going. And if your currency is weakening, that means you’re paying a load. David Malpass Read Quote
I don’t want to see the dollar strong because the rest of the world is crumbling. I would like to see the dollar strong because the Fed has said it wants it to be strong in the future. David Malpass Read Quote
The assumption that Washington could and would resolve Lehman Brothers without a bankruptcy, as it had Bear Stearns, was the single biggest mistake in the series of mistakes in 2007 and 2008 that led to the financial panic and the ensuing epidemic of job losses. David Malpass Read Quote
When Congress legislates in haste, it often causes more problems than it solves. But Congress rarely reconsiders its mistakes. David Malpass Read Quote
To win elections, politicians have promised practically endless government spending and covered up the cost, leaving generations of taxpayers obligated to pay off the debt. That’s wrong, but neither the U.S. nor Europe has a plan to stop it. David Malpass Read Quote
