Don't reward bad behavior. It is one of the first rules of parenting. During the financial cataclysm of 2008, we said it differently. When we bailed out banks that had created their own misfortune, we called it a 'moral hazard,' because the bailout absolved the bank's bad acts and created an incentive for it to make the same bad loans again.
Eliot Spitzer
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More quotes by Eliot Spitzer
- The irony is that it was tougher to rent a car from Cerberus when it owned Alamo than to buy a semi-automatic. To rent a car, one had to provide ID, a drivers' license, and get insurance coverage. To buy a gun? Cash and carry, from the back of a station wagon at a gun show. No concerns about downstream liability or risk.
- Some say that I should settle down, go slower and not push so hard, so quickly for such transformational change. To them, I say that you misunderstand the size of the problems we face, the strength of the status quo and the urgency of the people's desire for change.
- Imagine if the pension funds and endowments that own much of the equity in our financial services companies demanded that those companies revisit the way mortgages were marketed to those without adequate skills to understand the products they were being sold. Management would have to change the way things were done.
- The reality of split government puts a premium on creativity within the administration. President Obama needs to put the right people in charge of the agencies and then have them push the bounds of administrative power to change policy through those agencies. President Obama has a pretty good track record of this.
- Our criminal justice system is fallible. We know it, even though we don't like to admit it. It is fallible despite the best efforts of most within it to do justice. And this fallibility is, at the end of the day, the most compelling, persuasive, and winning argument against a death penalty.