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The Week in Quotes

By Brian Summerfield, Online Editor, REALTOR® Magazine

With the nation’s focus on rising unemployment, an uncertain economic recovery, and health care reform, here are some of the more salient quotes from leading figures this week:

“It is hard to escape the conclusion that the Fed may need to maintain fairly low interest rates over a period of many years … If you want to bring down leverage, you should keep monetary policy sufficiently accommodative to forestall a collapse in spending and a deflationary spiral.”

- Goldman Sachs economists Peter Berezin and Alex Kelston, commenting in a report released this week

“A full and vibrant recovery is still many months away. … But thanks to the bold and decisive action we’ve taken since January, I can stand here with confidence and say that we have pulled this economy back from the brink.”

- President Barack Obama in Sept. 9 remarks to a joint session of Congress on health care

“The [financial] crisis will happen again but it will be different … The most recent endeavor to re-regulate is a reaction to the crisis. The extraordinary impact of these global markets is making a lot of financial people feeling they have lost control.”

- Former Fed Chair Alan Greenspan in an interview with the BBC

“[Americans] will not accept rewarding failure or insulating people from the consequences of making bad judgments that can threaten the economy as a whole.”

- Treasury Secretary Tim Geithner in a town hall meeting on Sept. 10

“It absolutely changes the political dynamic once you have to ask taxpayers [for money].”

- Lisa Marquis Jackson, vice president at John Burns Real Estate Consulting, on the prospect of a bailout for FHA

Brian Summerfield

Brian Summerfield is Manager of Business Development and Outreach for NAR Commercial and Global Services. He can be reached at bsummerfield@realtors.org.

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