Friday, August 31, 2007

A Couple of Quotes to Think About on a Three-Day Weekend

The two quotes below came from a list of quotes at Financial Sense. It is worth visiting the site to go through all 25 quotes. I don't agree with all the quotes, but some of the political cartoons are pretty amusing.

The first quote is from Jim Rogers, always one of my favorite people to read about

The Federal Reserve was not founded to bail out Bear Stearns or a few hedge funds. It was founded to keep a stable currency and maintain its value. - Jim Rogers, Rogers Commodity Fund

The second quote comes from a quote (earlier post) made in the midst of the recent credit crunch

So perhaps the most worrying single remark made by a responsible banking official during the current crisis came from Jochen Sanio, the head of Germany's banking regulator BaFin. He warned on Aug. 1 that his country could be facing the worst banking crisis since 1931 -- a reference to the collapse of Austria's Kredit Anstalt, which provoked a wave of bank failures across Europe. - Martin Walker, United Press International

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