Lawrence Summers Quotes

"The president has set a principle: No bank with an unsatisfactory CRA rating could take advantage of any of the powers granted by this deregulation,"

"With respect to the action that was taken, it was certainly a constructive step reflecting a careful attempt to respond to pressures that had gathered in the oil sector over time,"

"This is about concrete action and what Japan does going forward. That can make a big difference in stimulating the economy, repairing the financial system and encouraging the flow of capital throughout Asia. It will be their steps that will be decisive and not what diplomats agree on here,"

"The IRS faces a multitude of restrictions -- restrictions that would be unacceptable in the private sector -- that hamper its ability to provide efficient service,"

"I am worried that we will become a stratified economy, like many in Latin America where the prosperous and the advantaged stay prosperous, and the poor and disadvantaged stay poor,"

"For these three reasons -- national security, how China evolves, our commercial interests -- I believe that this agreement is very much in our national interest."

"He has provided very important and valuable leadership on a range of issues from the Latin American debt crisis in the 1980s to the challenge of the transition economies following the fall of the Berlin Wall to the emerging market challenges of recent years."

"U.S. budget and current account deficits are very important contributors to an unbalanced global economy, while the U.S. deficit has been a source of demand that has propelled the global economy forward for some years now."

"Today, the IRS operates in a low-trust, short-tether budgeting environment, ... This makes rational planning for capital projects such as information technology very difficult."

"We've seen some indications that there may be some hoarding behavior, but there are many, many factors that influence oil prices, both with respect to the short run and over the medium term, ... But there's no question that -- as in any freely trading market -- there's a psychological element that enters in from time to time."

"TARGETING POOR ZIP CODES. This is a clear and unambiguous commitment."

"The ongoing task of debt management for the federal government will clearly be very different in the years ahead than it has been in the past, when debt was rapidly increasing, ... With $3.6 trillion in debt outstanding, even a 3 basis point (0.03 percentage point) reduction in federal borrowing costs will ultimately produce savings of more than $1 billion per year."

"In Europe, the stronger growth and reductions in unemployment are now arriving, ... But for better performance to endure, Europe will require substantial structural reforms."

"These developments create a situation where I think there is more room than there might have been in the past to sit back and analyze what it is that happened, and think best about how in all of our countries we can avoid a recurrence of such problems,"

"We are considering naming chairs after distinguished Indians. The research center will look at a broad canvas of research on all aspects of India."

"The dollar cannot and should not be a tool of trade policy."

"Nothing is done until the language is fully reviewed,"