1. John Thain, Merrill Lynch
"We're very confident that we have the capital base now that we need to go
forward in 2008."
January 18, 2008.
"...Today I can say that we will not need additional funds. These problems
are behind us. We will not return to the market."
March 8, 2008
"We have more capital than we need, so we can say to the market that we
don't need more injections. We can confirm that we have tackled the
problem."
March 16, 2008
2. Dick Fuld, Lehman Brothers
"Do we have some stuff on the books that would be tough to get rid of? Yes.
Am I worried about it? No. If you have some repricing of these things will
we lose some money? Yes. Is it going to kill us? Of course not."
Summer 2007
--Richard Fuld, Lehman Brothers C.E.O. (Financial Times).
4. Ken Thompson, Wachovia
"The mortgage market is going to be a great market in this country for a
long time. We've got population growth. We've got people who are always
going to want to live in homes that they own. It's going to be a great
market."
--on CNBC May 15, 2006.
5. Martin Sullivan, AIG
"But because this business is carefully underwritten and structured with
very high attachment points to the multiples of expected losses, we believe
the probability that it will sustain an economic loss is close to zero."
-- speaking to investors on December 5, 2007
6. John Mack, Morgan Stanley
"Well, number one, I think this firm has the capacity to take a lot more
risk than it has in the past. So from that aspect, we're really using our
talent in a more productive way than we have had in the past. I am
comfortable with the risk...I think we probably have one of the best overall
risk managers in Tom Daula, who oversees all firm risk, and also Zoe growing
up on the sales and trading side, mainly trading side risk management, it's
a very strong combination. So I'm comfortable with it. Do we take a lot of
risk? Yes."
--April 2007 shareholder meeting.
7. Ken Lewis, Bank of America
"We believe that in the current turmoil the stock market has been
underestimating the value in Countrywide's operations and assets. This
investment reflects our confidence in their business and recognizes the
importance of the company in providing home financing across the country. We
hope this investment will be a step toward a return to more normal liquidity
in the mortgage markets."
--August 22, 2007 press release
