A Quote by Andrew Ross Sorkin
I think Ben Bernanke and Tim Geithner shared the view that they shouldn't be in the business of bailouts, but you know, you're not in the business of bailouts until you frankly think you need to be.
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I think the bailouts in 2008 were wrong. And I think, you look in hindsight, it was a lot of misinformation that was presented about the bailouts of the banks in the West.
It's not often one gets the chance to write this but, when it comes to the bailouts, especially the euro bailouts, Marxists are right. Working people are being forced to support a privileged few.
We have the idea of saying that put limitations on bailouts, so that the bailouts don't occur in the future, so that we don't have to do the - look to see AIG situations or Bear Stearns situations or the Fannie Mae or Freddie Mac, which is probably going to be more money spent on those two institutions than the Congress spent on the TARP program.
I think the bailouts in 2008 were wrong.
We are living in a time when the very integrity of the Constitution is being threatened daily, from federal bailouts to federal assumption of control over private business.
How can you be on top of the things you do? I think when you are involved in a business, first of all you need to know the business. After that you know the business, you can - the numbers tell you what is happening. You can read with the numbers.
We don't need subsidized corporate welfare schemes that rely on endless bailouts from the taxpayer.
You know I think if the people who work for a business are proud of the business they work for, they'll work that much harder, and therefore, I think turning your business into a real force for good is good business sense as well.
I think Virgin Blue is still a very promising and exciting business.
Now, I know that's not a view that's widely held in the market but I think the market is simply throwing it into the too-hard basket at the present time because of the oil price events.
But we think it is still a very exciting business.
Well you know I'm very supportive of what the Tea Party is trying to do. They're very concerned with spending, the deficit, the bailouts, you know all of those kinds of things. But I really think that the strength of the Tea Party is being a grassroots movement.
I believe in evolution and I think when it comes to business and the roots of business and the fundamentals of business, I don't think that ever changes. I think the idea of change is an illusion, but in nature it's necessary to change and perhaps business is a part of nature. I'm not totally sure.
To invest successfully, you need not understand beta, efficient markets, modern portfolio theory, option pricing or emerging markets. You may, in fact, be better off knowing nothing of these. That, of course, is not the prevailing view at most business schools, whose finance curriculum tends to be dominated by such subjects. In our view, though, investment students need only two well-taught courses - How to Value a Business, and How to Think About Market Prices.
I think a lot of entrepreneurs think they need money to build the business faster when they actually haven't figured out the business equation yet.
I can find only three kinds of business in the universe: mine, yours and God's. Much of our stress comes from mentally living out of our business. When I think, "You need to get a job, I want you to be happy, you should be on time, you need to take better care of yourself," I am in your business. When I'm worried about earthquakes, floods, war, or when I will die, I am in God's business. If I am mentally in your business or in God's business, the effect is separation.
If you have a traditional view of economics, you're probably thinking of Ben Bernanke making Fed policy, or the guys creating financial derivatives at Goldman Sachs.
I mean the business is just so rough man, people always think the business is easy, and the business is very rough. This is probably the worst business that you can get in, as far as, business-wise.
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