[Translation: The GOP brass will have to embrace McCain’s number one issue — campaign finance reform — if he’s going to throw his weight behind Bush.] There are a bunch of little reform measures percolating in Congress right now, … At least some of those will need to pass if we’re going to see the...
Rule No. 1 : Never lose money. Rule No. 2 : Never forget Rule No. 1.
We estimate the wisdom of nations by seeing what they did with their surplus capital.
A budget tells us what we can’t afford, but it doesn’t keep us from buying it.
In many ways the effect of the crash on embezzlement was more significant than on suicide. To the economist embezzlement is the most interesting of crimes. Alone among the various forms of larceny it has a time parameter. Weeks, months, or years may elapse between the commission of the crime and its discovery. (This is...
We begged, borrowed and stole $40,000 to finance the project.
For nearly four years you have had an Administration which instead of twirling its thumbs has rolled up its sleeves. We will keep our sleeves rolled up. We had to struggle with the old enemies of peace–business and financial monopoly, speculation, reckless banking, class antagonism, sectionalism, war profiteering. They had begun to consider the Government...
This book is an essay in what is derogatorily called “literary economics,” as opposed to mathematical economics, econometrics, or (embracing them both) the “new economic history.” A man does what he can, and in the more elegant – one is tempted to say “fancier” – techniques I am, as one who received his formation in...
You still could go to some industry or some university or the government and if you could persuade them you had something on the ball—why, then, they might put up the cash after cutting themselves in on just about all of the profits. And, naturally, they’d run the show because it was their money and...
We would hope to finance the subsequent phases off the revenues generated by the hotel.
Risks remain and uncertainty is on the rise, this was in substance the message of G7 finance ministers and central bankers this weekend, … Even if global economic growth remains solid, it is suffering from high oil prices, U.S. deficits and the rise of protectionism.
Don’t live like a CEO when you’restill a sandwich artist.
The truth is that banks are the last feudal kingdoms, their rulers omnipotent, divine warlords. Their key lieutenants are ‘ronin’ (wandering mercenary samurai) who roam financial markets ready to ally themselves to any warlord for a share of plunder. This is not the place to apply the latest management theory.
Oh, and 13.1 million American people had their homes foreclosed. Because their debt, it turns out, was real; it was only the debt within the financial sector that was imaginary. It was only the people who generated the crisis who got three magical wishes from an economic genie. There was no abracadabra for ordinary people;...
[Jeremy Siegel, a professor of finance at the Wharton School, sees the year-long sell-off as a rational response to fast-weakening corporate profits. And he says the worst may not be over.] I don’t think (tech stocks) are cheap, … But they are closer to true value.
When I feel sad, I try to think of someone else in the world who is suffering worse than me. Like someone in Seattle, who is hurting so bad financially that instead of a vente coffee at Starbucks every morning, they have to downsize to grande.
(…) my money guy Richard is going without a tie now, like a politician who wants to appeal to the suffering common man (or perhaps every morning his firm takes the ties and shoelaces away from the brokers and financial planners to keep them from offing themselves)
You eat the wealthy, sir, and it will be your last meal.
The U.S. stock market was now a class system, rooted in speed, of haves and have-nots. The haves paid for nanoseconds; the have-nots had no idea that nanoseconds had value. The haves enjoyed a perfect view of the market; the have-nots never saw the market at all.
The first thing you need to know about Goldman Sachs is that it’s everywhere. 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.