“If Americans are frustrated with Congress, imagine their frustration with a group of international bank officials running our ecomomy-bankers who may not have as their motive either to see us out of debt to them or to strengthen our economy, society, international influence, or other elements of our way of life.” IfsWayMayRunningEconomyImagineGroupsInfluenceElementsInternationalCongressDebtMotiveOfficialsFrustrationFrustratedBankers Author:Oliver DeMille
“The government can always rescue the markets or interfere with contract law whenever it deems convenient with little or no apparent cost. (Investors believe this now and, worse still, the government believes it as well. We are probably doomed to a lasting legacy of government tampering with financial markets and the economy, which is likely to create the mother of all moral hazards. The government is blissfully unaware of the wisdom of Friedrich Hayek: "The curious task of economics is to demonstrate to men how little they really know about what they imagine they can design.")” KnowsMenBelieveWellsLittlesStillsGovernmentLawMotherMoralEconomyImagineDesignCostEconomicsTasksFinancialCuriousLegacyLastingContractsInvestorsRescueInterfereDoomedConvenientHazardsFinancial MarketsHayekFriedrich HayekLasting LegacyMoral Hazard Author:Seth Klarman