I think there has been an excessive granting of credit.
-Congressman Barney Frank, discussing the credit-card industry with Larry Kudlow.
Quotations
Quote of the Day
“Never again” has a very different meaning to Jews than it does to the rest of the world. Many of you think it means that never again will we stand still for genocide. You’re partly right. It means never again will we trust our defense to anyone else, thus preventing our genocide. I don’t think that Gates, or the Obama Administration, get that. The Bush Administration used to early on.
Jonathan’s comment: I hope the Israeli govt gets it. I’m not sure they still do.
Quote of the Day
Distance from English, from the European languages of reason, is always a bad thing for the developing world.
Aakar Patel, “Try and say this in Hindi—bet you can’t”.
RTWT.
Via The Middle Stage.
Quote of the Day
… as it has been my lot in the peculiar position which I have occupied for more than half a century as counsel and adviser for a great corporation and its creators and the many successful men of business who have surrounded them, I have learned to know how men who have been denied in their youth the opportunities for education feel when they are in possession of fortunes, and the world seems at their feet. Then they painfully recognize their limitations, then they know their weakness, then they understand that there are things which money cannot buy, and that there are gratifications and triumphs which no fortune can secure. The one lament of all those men has been: “Oh, if I had been educated I would sacrifice all that I have to obtain the opportunities of the college, to be able to sustain not only conversation and discussion with the educated men with whom I come in contact, but competent also to enjoy what I see is a delight to them beyond anything which I know.”
My Memories of Eighty Years by Chauncey M. Depew (1921)
Money and Power
There are two passions which have a powerful influence in the affairs of men. These are ambition and avarice—the love of power and the love of money. Separately, each of these has great force in prompting men to action; but, when united in view of the same object, they have, in many minds, the most violent effects.
(also posted at Photon Courier as part of my Worth Pondering series)