What were people talking about in 2009? From bank failures and bailouts to fraud and the Fed, 2009 has been quite an interesting year to be in the business of money. Here are some of the most memorable quotes of 2009.

Financial Crisis
"Last year's worst-case scenarios came true. The global financial pandemic that I and others had warned about is now upon us. But we are still only in the early stages of this crisis. My predictions for the coming year, unfortunately, are even more dire: the bubbles, and there were many, have only begun to burst." - Dr. Nouriel Roubini, NYU Professor on the economy.

"What the taxpayer got was an averted calamity." - Former Treasury Secretary Hank Paulson in response to Representative Jackie Speier's sentiment that taxpayers bought Merrill Lynch for Bank of America.

"In the end this is a symptom of a larger problem - a bubble-and-bust economy that valued reckless speculation over responsibility and hard work." – U.S. President Barack Obama on bonuses awarded to AIG executives after the company's multibillion dollar bailout. (Find out why the U.S. government approved an enormous bailout package for American Investment Group in Falling Giant: A Case Study Of AIG.)

"It affects everybody, but I would say to people keep your chin up and keep chugging forward. It will all work out!" - Donald Trump on the tough economy.

"The world's most powerful investment bank is a great vampire squid wrapped around the face of humanity, relentlessly jamming its blood funnel into anything that smells like money." – Matt Taibbi of Rolling Stone describing Goldman Sachs.

"Financiers must rediscover the genuinely ethical foundation of their activity." - Pope Benedict XVI.

"[Banks] need a good kick up the bum occasionally." - Wayne Swan, Finance Minister of Australia.

"I get it. I will not spend a single penny for the purpose of rewarding a single Wall Street executive." -U.S. President Barack Obama on the taxpayer bailout of troubled banks.

Monetary Policy
"I had to hold my nose and stop those firms from failing." - Ben Bernanke, U.S. Federal Reserve Chairman.

"The United States economy is now out of the emergency room and appears to be on a slow path to recovery. But enormous dosages of monetary medicine continue to be administered and, before long, we will need to deal with their side effects." - Warren Buffett in an op-ed piece for The New York Times.

"By making what was in effect a multibillion-dollar gift to Wall Street, policy makers undermined their own credibility and put the broader economy at risk." - Paul Krugman in an op-ed piece for The New York Times.

"Our government bailout pushes hundreds of billions of phantom dollars back into the economy to bail out hundreds of billions of dollars of poor decisions. I think that's just nonsense." – Sarah Palin addressing investors in Hong Kong.

Personal Savings
"Pretty much everybody we know's 401(k) is now a 201(k). Why did that happen? Oh my God, nobody expected this housing crisis through no fault of our ownership of stock prices was decimated. Why is that any different than his explanation? We want our 401(k) money back. I want my stock money back." - Rick Santelli regarding President Obama

"The most wealthy, most fortunate, richest 1% of Americans received 75% of the gains in income across the overall economy over the last six to eight years. This restores some basic fairness to the American economy in a fiscally responsible way that will leave our economy stronger for the future." - Treasury Secretary Tim Geithner, regarding the tax cuts during the Bush Administration versus the Obama administration's budget plan.

"I left a legacy of shame. It is something I will live with for the rest of my life." - Bernard Madoff in a court hearing where he was handed a 150-year sentence for defrauding investors. (Due diligence does work, but the loose reporting standards for hedge funds make extra care and attention necessary. Learn more in How To Avoid Falling Prey To The Next Madoff Scam.)

The Bottom Line
Lucky for some of the folks on our list, coming up with a memorable quote doesn't require eloquence, accuracy or sincerity. Regardless of their intent or their delivery, each one definitely made 2009 a year to remember.

Related Articles
  1. Savings

    12 Great Ways to Save Money at the Supermarket

    Use these strategies when shopping for food, and you'll save big bucks on your grocery bill
  2. Budgeting

    Your Worst Financial Mistakes And Why You Made Them

    No one intends to make a financial mistake, but an unexpected disaster or poor planning could leave you in financial distress.
  3. Savings

    10 Ways To Budget When You’re Broke

    Budgets are some of the best financial tools around – when planned properly and followed faithfully.
  4. Savings

    7 Ways to Trim Fat from Your Spending

    Check out these seven ways to cut the fat from your spending.
  5. Savings

    Easy Ways to Go Green and Stay Budget Friendly

    Social entrepreneurs recruit "skeptics" to team green, by providing economically efficient products and services that minimize consumers' carbon footprint.
  6. Savings

    6 Millionaire Traits That You Can Adopt

    Millionaires have more in common than just their bank accounts. They share certain qualities that help them make it to the top.
  7. Investing

    10 New Apps That Help Budget For Expensive Cities

    From platforms for saving money to those that account for side jobs, mobile apps are changing spending habits and income generation in urban areas.
  8. Markets

    Is Another Bear Market Ahead?

    With market volatility recently reaching its highest level, investors are questioning what the outlook is for U.S. stocks in 2015 and beyond.
  9. Investing

    How To Protect Your Retirement from Lawsuits

    Getting sued is one of those things that no one really plans on. Be proactive and make sure your hard-earned retirement is safe from lawsuits.
  10. Budgeting

    Top 7 Money Saving Tips for Eating Out

    Discover seven money-saving options available to consumers who are looking to partake in the luxury of dining out while cutting down on cost.
  1. What are the risks of annuities in a recession?

    Annuities come in several forms, the two most common being fixed annuities and variable annuities. During a recession, variable ... Read Full Answer >>
  2. Can mutual funds outperform savings accounts?

    A mutual fund can – and should – outperform a savings account. In most cases, it should not even be a close race. Savings ... Read Full Answer >>
  3. Can I use my IRA savings to start my own savings?

    While there is no legal reason why you cannot withdraw funds from your IRA to start a traditional savings account, it is ... Read Full Answer >>
  4. How soon should I start saving for retirement?

    The best answer to the question, "How soon should I start saving for retirement?", is probably, "yesterday," and the second ... Read Full Answer >>
  5. Can I use my 401(k) as a collateral for a loan?

    Although federal Internal Revenue Service, or IRS, regulations prohibit using a 401(k) account as collateral for a loan, ... Read Full Answer >>
  6. How does the risk of investing in the industrial sector compare to the broader market?

    There is increased risk when investing in the industrial sector compared to the broader market due to high debt loads and ... Read Full Answer >>

You May Also Like

Hot Definitions
  1. Ex Works (EXW)

    An international trade term requiring the seller to make goods ready for pickup at his or her own place of business. All ...
  2. Letter of Intent - LOI

    A document outlining the terms of an agreement before it is finalized. LOIs are usually not legally binding in their entirety. ...
  3. Purchasing Power

    The value of a currency expressed in terms of the amount of goods or services that one unit of money can buy. Purchasing ...
  4. Real Estate Investment Trust - REIT

    A REIT is a type of security that invests in real estate through property or mortgages and often trades on major exchanges ...
  5. Section 1231 Property

    A tax term relating to depreciable business property that has been held for over a year. Section 1231 property includes buildings, ...
  6. Term Deposit

    A deposit held at a financial institution that has a fixed term, and guarantees return of principal.
Trading Center
You are using adblocking software

Want access to all of Investopedia? Add us to your “whitelist”
so you'll never miss a feature!