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I Can't Believe He Said That: 2008 in Quotes

Posted Dec 24, 2008 07:30am EST by Aaron Task in Newsmakers
As the clock winds down on an extraordinary year in finance, we take a look back at some of the most notable quotes from some of the most notable players of 2008, including:
  • The policymakers: Federal Reserve chairman Ben Bernanke and Treasury Secretary Hank Paulson.
  • The politicians: President George Bush and Arizona Senator John McCain.
  • The CEOs: Former Wall Street chieftains Alan Schwartz and Dick Fuld, and GM's Rick Wagoner.
  • The scandal monkeys: Rod Blagojevich and Bernie Madoff.
Of course, this isn't a complete list of all the people who made 2008 so memorable (and painful for most investors). But each in his own way, the people above and their comments captured the Zeitgeist of a remarkable year that can't end soon enough.

105 Comments

Yahoo! Finance User
Yahoo! Finance User - Wednesday December 24, 2008 07:52AM EST

QUESTION: People who received fraudulent profits from Madoff's investment firm, I'm certain, had to pay capital gain taxes, which could total in the tens of millions of dollars. When those fraudulent profits are eventually payed back by those who were duped by Madoff, is the U.S. Government also going to give back the taxes paid on those fraudulent capital gains or will they keep it for themselves? If there were no "real" profits, then there shouldn't be any "real" taxes applied to those profits, and the U.S. Government should be paying back money as well to those who lost, not just the ones who received from Madoff.

Yahoo! Finance User
Yahoo! Finance User - Wednesday December 24, 2008 08:08AM EST

Hey Aaron, "totally false" or just flat-out lies? Credibility in mainstream media is at all-time lows.

Yahoo! Finance User
Yahoo! Finance User - Wednesday December 24, 2008 08:17AM EST

This is quite possibly the worse reporting I have ever seen. Now i know why I own stock in Google and not Yahoo.

Johnny Ike
Johnny Ike - Wednesday December 24, 2008 08:22AM EST

Good,all bad things comes to the open......,.Of course.....This time a solution will be absolute..... All propossal and measure will be applied to avoid the repeat of all scandal and turmoil in the Stock Market and The Government......Both has faulty....................Sec sleeping and all of them are lazy from top to bottom especially Chairman Christopper Cox....Ben Bernanke is too slow to adopt the correct policy probably no idea at all............Finance of the Teasury Secretary Hendry Paulson to slow to adopt the policy and too late....No idea, doing the impossible...... Bankers all greedy and Thieves.......Financial Institution nearly to collapse with Central Bank Help the recession has averted,credit facility is now alive from near death....Housing market collapse,all thing seems collapsing but thanks God..All has been averted with the masive Bail-Out....Now the economy is moving again like infant that need guidance and supervision bothby private and government.... 2008 It is the worse yyear in Corporate America and the World,,,,,,,,Year 2009 is the year of reconstruction and challemce.........New start,New Hope,New Governmant Official, New President,New Congress and Senate....We just hope 2009 would be better.....Of course there is a set back hoping it it is just minor.........Ready for action 2009.............

d c
d c - Wednesday December 24, 2008 08:37AM EST

Funny how for so long the party line on a plunging economy "it's all mental. it's a media conspiracy. the economy is fundamentally sound." Whereas, in the "war on terror", it's axis of evil, the next hitler, the downfall of freedom and democracy, islamacist this, islamacist that, alert level orange, terror chatter. You know what the difference is? Follow the money and power. Both are meant to fleece the gullible trusting American to give up power and money (same difference) to the new world order types.. or should I just say, same old machievelli/roman power politics of concentrating power and playing the mob as sheeple.

Me3TV
Me3TV - Wednesday December 24, 2008 08:56AM EST

These guys were funny but they are only entertainers and their entire slant was to find humor with "the man". Bush policies of no regulation on the key instruments of our destruction?? It was the key Democrats and major support from payoffs by FRE AND FNM to THEM along with solid Dem protected FRANNIE turf that brought the downfall. Yet this kind of reporting led us (along with 8 years of assaults on Bush) to placing the SAME DEMS FRANNIE supported in power. Make fun of the big 3 autos and we can all agree they were late to the fuel efficiency party - but that oil spike last summer was too quick for any firm to respond to when the next generation of US made fuel efficient autos was in process (late) and preparing for the future fuel market. The auto companies were getting there and needed two years to reach it but the contrived fuel spike gutted them in the underbelly before they could transition in the pre-bust market. In my view ALL the current woes are a direct result of the 9/11/2001 world changing event and our reaction to its immediate world financial crisis. This is the explosion at the end of a delayed fuse. These guys laugh on cue with the DEM playbook at Bush's Iraq policies. I think in 50 years - he will be viewed as a visionary.

you
ALAN U - Wednesday December 24, 2008 08:58AM EST

Help to us all. And maybe a happy New Year,

you
M. Q - Wednesday December 24, 2008 08:59AM EST

I love the naievte of the poster who says 2009 will be better. Grow up. Yeah Obama mamma is gonna save us. It's just more of the same on a different day. Until the American people take away the corruption from wall street and the complicity of government, things will never change.

you
dre61611 - Wednesday December 24, 2008 09:05AM EST

It's not too late for you two jackasses to make the list yourselves.....do a little archive research on your own words throughout this past year and you will find some of the dumbest comments and predictions on the internet. By the way, maybe you should stick to mediocre reporting on financial issues and leave the political commentary to the people who know what they're talking about....

you
cosecha@sbcglobal.net - Wednesday December 24, 2008 09:06AM EST

--Should have included Peter Schiff predicting this disaster & all those "greats & near-greats" laughing and sneering at Schiff.

you
Yahoo! Finance User - Wednesday December 24, 2008 09:06AM EST

No wonder financials can't be trusted. Can any stock data? Any economist? The fed or treasury? Be trusted.

The wise dude
The wise dude - Wednesday December 24, 2008 09:11AM EST

The Me3tv guy must be smoking some good stuff. How can you say this is a democratic debogle under a Repulican regime. Stop drinking and smoking and dreaming. And get real.........

you
aboalfazl g - Wednesday December 24, 2008 09:11AM EST

I DONT KNOW HOW CAN I OBTAIN MORE MONY

you
Yahoo! Finance User - Wednesday December 24, 2008 09:14AM EST

Amateurs… Once again, I’m suckered into reading what could have been a good story, only to get party line drivel. I’m surprised ScotTrade and Yahoo sponsors this nonsense.

you
dre61611 - Wednesday December 24, 2008 09:14AM EST

I agree 100% with cosecha's comment....those really were the dumbest comments of year...maybe the decade...

you
dano - Wednesday December 24, 2008 09:18AM EST

Why are we talking about quotes in 2008 when 2008 is not yet over? How can you talk about all of 2008's market performance when the year isn't over? I'm not hopeful or pessimistic, just realistic.

d c
d c - Wednesday December 24, 2008 09:22AM EST

Me3TV - Fannie and Freddie are private firms, no different than GS and LEH. And key repbulicans are always in the pocket of Wall St. The only reason Bush and GOP even went after Fannie/Freddie was because Wall St told them to. You think southern state redneck and fundie GOP care a whit about GSE lending practices? And then Fannie/Freddie hired superstar conservative lobbiest like Dole and Newt for millions of $ to protect themselves and shut down the weak GOP effort. If Bush and GOP were as strong principled against sub-prime lending how come we never heard about it until 2 months ago? Stupid ditto-head parrot. I know Rush fills your small head with these sweet sweet lies.

you
seattletrader2001 - Wednesday December 24, 2008 09:25AM EST

Is this a great Country or what ? Hail to All the Chief's that ran us into the Ground.

Yahoo! Finance User
Yahoo! Finance User - Wednesday December 24, 2008 09:25AM EST

2009 - Will Barny Frank turn his back on Fanne?

Yahoo! Finance User
Yahoo! Finance User - Wednesday December 24, 2008 09:33AM EST

Aaron, Henry, I love your commentary. As bad as things are in the economy, your humor and energy brighten my day. Thank you for your work.

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