"In economic panics throughout history, the wiping out of the savings accounts of lower earners and the middle class has often led to social revolution, sometimes violent upheavals"
About this Quote
The intent reads as warning more than prophecy. Clooney points to a recurring historical pattern: elites tend to treat financial crises as cyclical weather, while ordinary people experience them as betrayal. “Savings accounts” is a pointed choice because savings are moralized in American political language: the responsible thing, the prudent thing, the proof you played by the rules. Destroy that, and you don’t just bankrupt households; you delegitimize institutions.
The subtext is a critique of policy triage. Bail out banks while letting depositors, retirees, and wage earners absorb the blast radius, and you’re not merely risking hardship; you’re loading the conditions for mass anger to find a target. “Sometimes violent upheavals” isn’t melodrama. It’s the implied bill that comes due when a society privatizes losses at the bottom and socializes protection at the top.
Quote Details
| Topic | Equality |
|---|---|
| Source | Help us find the source |
| Cite |
Citation Formats
APA Style (7th ed.)
Clooney, Nick. (2026, January 16). In economic panics throughout history, the wiping out of the savings accounts of lower earners and the middle class has often led to social revolution, sometimes violent upheavals. FixQuotes. https://fixquotes.com/quotes/in-economic-panics-throughout-history-the-wiping-108698/
Chicago Style
Clooney, Nick. "In economic panics throughout history, the wiping out of the savings accounts of lower earners and the middle class has often led to social revolution, sometimes violent upheavals." FixQuotes. January 16, 2026. https://fixquotes.com/quotes/in-economic-panics-throughout-history-the-wiping-108698/.
MLA Style (9th ed.)
"In economic panics throughout history, the wiping out of the savings accounts of lower earners and the middle class has often led to social revolution, sometimes violent upheavals." FixQuotes, 16 Jan. 2026, https://fixquotes.com/quotes/in-economic-panics-throughout-history-the-wiping-108698/. Accessed 12 Feb. 2026.


