"I think the credit default swaps can take the place of the rating agencies who really have missed the ball in this procedure and are quite conflicted by the way the ratings are paid for. So, I would like to see credit default swaps become an evermore important way of understanding credit risk in the economy."

-- Robert F. Engle

#Thinking Quotes #Agency Quotes #Risk Quotes

“Revolutions are not made with rosewater.”
“Natural selection is the blind watchmaker, blind because it does not see ahead, does not plan consequences, has no purpose in view. Yet the living results of natural selection overwhelmingly impress us with the appearance of design as if by a master watchmaker, impress us with the illusion of design and planning.”
“Having a great idea is simply not enough. The eventual goal is vastly more important than any idea. It is how ideas are implemented that counts in the long run”
“God gave you a heart to love with, not to hate with, God gave you the ability to create Heaven on earth, not Hell.”
“When I watch my early documentaries, they're very eclectic. They don't follow any particular [pattern]. I would have gotten thrown out of film school because I didn't. I was just putting them together somehow as the spirit moved me, following my nose, thinking I was brilliant.”
“We're not just going to see mid-sized banks go under in the next few months, we're going to see a whopper.”
“Liverpool's grand opera also gave us some light comedy - on hearing the news that the house of goalkeeper Pepe Reina was burgled, and his Porsche stolen, while he was heroically saving penalties at Anfield, fans took a typically witty line: police were said to be interviewing a man from the West London area, a certain Frank Lampard, whose whereabouts on Tuesday between 7.45pm and 10.15pm are unknown. Indeed.”
“I have always felt that the true text-book for the pupil is his teacher”

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