The Week in Words: Punishing banks; the German jackboot; factories or fries

February 12, 2012

"This isn't just about punishing banks for their irresponsible behavior. It's also about requiring them to help the people they harmed by funding efforts to help homeowners stay in their homes."

- Housing and Urban Development Secretary Shaun Donovan, on the $25 billion settlement of investigations of foreclosure abuses.

"I really don't see this as being that big a deal. The total number of dollars is still small compared to the value of the mortgages that are underwater. To some extent, the numbers reflect losses the lenders would have taken anyway."

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- Richard Green, of the Lusk Center for Real Estate at the University of Southern California, on the foreclosure settlement.

"Of course we do not want to be outside the EU, but we can get by without being under the German jackboot."

- Greece's resigning deputy labor minister Yiannis Koutsoukos, objecting to terms of a European deal on Greek debt.

"No disbursement without implementation."

- Jean-Claude Juncker, the Luxembourg premier who chairs meetings of the eurozone finance ministers, after the ministers declined to fully back the Greek deal.

"The good news is everybody is talking about manufacturing today. Even on the Super Bowl, you saw ad after ad referring to the promise and the potential of manufacturing in America."

- Jay Timmons, president of the National Association of Manufacturers.

"The vast majority of jobs in the future are going to be created in the service sector, not the manufacturing sector."

- Nigel Gault, chief U.S. economist for the consulting firm IHS Global Insight Inc.

"We've obviously ramped down preparing the factory, which we think is a sensible and prudent business decision. We can ramp up very rapidly once the funding's back in place." - Roger Ormisher, spokesman for Fisker Automotive Inc., whose Wilmington car plant is on hold after the U.S. froze a $528.7 million loan.

 


Compiled from The Inquirer, Associated Press, Bloomberg News.

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