Much of the securitization took the form of collateralized debt obligations (CDOs) with senior credit tranches certified by rating agencies as AAA. It was the failure to properly price such risky assets that characterized the crisis.
Even the most wretched individual of our present society could not exist and develop without the cumulative social efforts of countless generations. Thus the individual, his freedom and reason, are the products of society, and not vice versa: society is not the product of individuals comprising it; and the higher, the more fully the individual is developed, the greater his freedom — and the more he is the product of society, the more does he receive from society and the greater his debt to it.mikhail bakunin
It's hard for writers to get on with their work if they are convinced that they owe a concrete debt to experience and cannot allow themselves the privilege of ranging freely through social classes and professional specialties. A certain pride in their own experience, perhaps a sense of the property rights of others in their experience, holds them back.Saul Bellow
When Hume and Adam Smith prophesied that a little increase of national debt beyond the then amount of it, would probably occasion bankruptcy; the main cause of their error was the natural one, of not being able to see the vast increase of productive power to which the nation would subsequently obtain.thomas malthus
Lyin' awake in a cold, cold sweat Am I overdrawn, am I going in debt? It gets worse, the older that you get No escape from the state of confusion I'm in State of confusion I'm inRay Davies, in "State of Confusion" on State of Confusion (1983) by The Kinks
[United States Senate Committee on Finance] Staff views it as inappropriate for a hospital to seek payment from a patient by sending a bill, (and) when payment is not received, to seek to recharacterize that debt as charity care. In addition, staff has found that the decision by some hospitals to include bad debt which often consists of very high charges from the (chargemaster list) provides a misleading and inflated accounting of a hospital 's charity care to policymakers and the public.United States Senate Committee on Finance staff, cited in: Naples Daily News staff (September 23, 2007). "Nonprofits hope IRS more responsive to them". Naples Daily News (Florida).
It shows nobility to be willing to increase your debt to a man to whom you already owe much.Cicero, Epistulae ad Familiares, II, 6, 2 (43 BC).
Blessed are the young, for they shall inherit the national debt.Herbert Hoover, Address to the Nebraska Republican Conference, Lincoln, Nebraska (16 January 1936)
And to preserve their independence, we must not let our rulers load us with perpetual debt. We must make our election between economy and liberty, or profusion and servitude.Thomas Jefferson, letter to Samuel Kercheval, July 12, 1816, reported in ed., The Writings of Thomas Jefferson, Paul L. Ford, vol. 10, p. 41 (1899).
I am for a government rigorously frugal & simple, applying all the possible savings of the public revenue to the discharge of the national debt; and not for a multiplication of officers & salaries merely to make partisans, & for increasing, by every device, the public debt, on the principle of it's being a public blessing.Thomas Jefferson, letter to Elbridge Gerry, January 26, 1799, reported in ed., The Writings of Thomas Jefferson, Paul L. Ford, vol. 7, p. 327 (1896).
The kiss you take is paid by that you give. The joy is mutual, and I'm still in debt.George Granville, 1st Baron Lansdowne), Heroic Love, Act V, scene 1.
The United States has already passed on as the world’s economic leader. Having flouted Thomas Jefferson for too long, America has succumbed to public debt, the 'fore horse for oppression and despotism,' after which 'taxation will follow, and in its train wretchedness and oppression.“Economic Apocalypse Now,” WorldNetDaily.com, June 3, 2011.
Drinking water neither makes a man sick, nor in debt, nor his wife a widow.John Neal, reported in Josiah Hotchkiss Gilbert, Dictionary of Burning Words of Brilliant Writers (1895), p. 576.
Meanwhile, the U.S. debt remains, as it has been since 1790, a war debt; the United States continues to spend more on its military than do all other nations on earth put together, and military expenditures are not only the basis of the government's industrial policy; they also take up such a huge proportion of the budget that by many estimations, were it not for them, the United States would not run a deficit at all.David Graeber, Debt: The First 5000 Years (2011), p. 365.
I think the Iraqi people owe the American people a huge debt of gratitude and I believe most Iraqis express that.George W. Bush, January 13, 2007