BusinessQuotes

George Gissing

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  • But try to imagine a personality wholly unfitted for the rough and tumble of the world’s labour-market. From the familiar point of view these men were worthless; view them in possible relation to a humane order of society, and they are admirable citizens. Nothing is easier than to condemn a type of character which is unequal to the coarse demands of life as it suits the average man. These two were richly endowed with the kindly and the imaginative virtues; if fate threw them amid incongruous circumstances, is their endowment of less value? You scorn their passivity; but it was their nature and their merit to be passive. Gifted with independent means, each of them would have taken quite a different aspect in your eyes.

  • — George Gissing
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In 2004, Alan Greenspan, then the chairman, said the rise in home values was 'not enough in our judgment to raise major concerns.' In 2005, Mr. Bernanke — then a Bush administration official — said a housing bubble was 'a pretty unlikely possibility.' As late as May 2007, he said that Fed officials 'do not expect significant spillovers from the subprime market to the rest of the economy'.

—Housing regulators
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