Stephen A. Schwarzman

Businessman

Quotes by Stephen A. Schwarzman

• We need sobriety, rationality, and civility in the discussions on the regulation of financial institutions so that the banks can return in a robust manner to their central role in funding the economy.

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• Sleeping at night is not a specialty of entrepreneurs. The entrepreneur who is sleeping soundly, something bad is happening to that person; they just don't know it's happening yet.

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• I'm not feeling undertaxed. Tax reform is an important issue. You have to have an inherent sense of fairness.

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• Business is usually a team sport. There isn't one great person sitting there directing things. You can't run an effective business like that.

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• My biggest job really is to figure other people out. I need to understand what makes a person tick.

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• Most youth are lacking critical life skills that make them employable and, most importantly, able to keep a job - things like teamwork, decision-making, and time management.

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• Inaccurate analysis produces faulty insights and bad decisions - which lead to losing a tremendous amount of money.

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• When you lose control of risk at a financial institution, you do a variety of unfortunate credit extensions or purchases - and all of a sudden, you've blown up your business.

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• The concept of fair value accounting is correct and useful, but the application during periods of crisis is problematic. It's another one of those unintended consequences of making a rule that's supposed to be good that turns out the other way.

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• Next to my mom, I'm actually a shrinking violet.

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• I don't feel like a wealthy person. Other people think of me as a wealthy person, but I don't. I feel the same as when I was a fifth-year associate trying to make partner at Lehman Brothers. I haven't changed.

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• I'm pretty good on my feet. I'm pretty decent at bobbing and weaving, but there's only so long you can bob and weave when you don't have a good base.

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