Amateurs want to be right. Professionals want to make money.
Any informed borrower is simply less vulnerable to fraud and abuse.
Corruption, embezzlement, fraud, these are all characteristics which exist everywhere. It is regrettably the way human nature functions, whether we like it or not. What successful economies do is keep it to a minimum. No one has ever eliminated any of that stuff.
Deficit spending is simply a scheme for the confiscation of wealth.
Every economy exists, no matter what the level of democracy, has elements of crony capitalism. It's- given human nature and given the democratic structures, which we all, I assume, adhere to, that is an inevitable consequence.
Excessive optimism sows the seeds of its own reversal.
Finance is wholly different from the rest the economy.
History cannot be reduced to a set of statistics and probabilities.
I am one of the culprits who created the problem. I used to write those programs back in the '60s and '70s, and was so proud of the fact that I was able to squeeze a few elements of space by not having to put '19' before the year.
I don't know where the stock market is going, but I will say this, that if it continues higher, this will do more to stimulate the economy than anything we've been talking about today or anything anybody else was talking about.
I guess I should warn you, if I turn out to be particularly clear, you've probably misunderstood what I've said.
I have found no greater satisfaction than achieving success through honest dealing and strict adherence to the view that, for you to gain, those you deal with should gain as well.
I made a mistake in presuming that the self-interests of organizations, specifically banks and others, were such that they were best capable of protecting their own shareholders and their equity in the firms.
If I seem unduly clear to you, you must have misunderstood what I said.
In general, corruption tends to exist whenever governments have favors to extend, or something to sell.
Markets do very weird things because it reacts to how people behave, and sometimes people are a little screwy.
No matter how skillful the trading scheme, over the long haul, abnormal returns are sustained only through abnormal exposure to risk.
Protectionism will do little to create jobs and if foreigners retaliate, we will surely lose jobs.
Revolutions are something you see only in retrospect.
Rules cannot substitute for character.
Since becoming a central banker, I have learned to mumble with great incoherence. If I seem unduly clear to you, you must have misunderstood what I said.
The arts develop skills and habits of mind that are important for workers in the new economy of ideas.
The free lunch has still to be invented.
The gut-feel of the 55-year old trader is more important than the mathematical elegance of the 25-year old genius.
The need for values is inbred. Their content is not.
The number one problem in today's generation and economy is the lack of financial literacy.
The Republicans in Congress lost their way. They swapped principle for power. They ended up with neither. They deserved to lose.
The true measure of a career is to be able to be content, even proud, that you succeeded through your own endeavors without leaving a trail of casualties in your wake.
The United States can pay any debt it has because we can always print money to do that. So there is zero probability of default.
The very nature of finance is that it cannot be profitable unless it is significantly leveraged... and as long as there is debt, there can be failure and contagion.
There are no easy choices. Easy choices are long gone.
Unless you are willing to compromise, society cannot live together.
We really can't forecast all that well, and yet we pretend that we can, but we really can't.
We're a democratic society. Shutting down the government should not be on the agenda.
What an ideology is is a conceptual framework with the way people deal with reality. Everyone has one. You have to, to exist you need an ideology. The question is whether it is accurate or not.
Whatever you tax, you get less of.
When trust is lost, a nation's ability to transact business is palpably undermined.
You can't have the capitalist system if an increasing number of people think it is unjust.
Found 38 occurence(s) in 52,059 quotation(s).
Categories: Quotes of the day
KGB Quotation Database Search page design and software
contributed by Rafal Sulejman.
