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

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  1. Reading this post today (seven years later,) is a reminder of the past, history now etched in stone. How far we’ve come yet the future is so uncertain. Hopeful the mistakes leading to the financial crisis will not be repeated.