A Quote by Charlie Munger

I bet Richard Fuld doesn't have an ounce of contrition. It's just megalomania. When it's like that, you need rules to prevent catastrophe. When banks are borrowing the government's credit rating, you need rules to prevent stupid things.

Charlie Munger

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Banks Bet Borrowing Catastrophe Contrition Credit Credit Rating Government Just Like Megalomania Need Ounce Prevent Rating Richard Rules Stupid Stupid Things Things

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Charlie Munger
American - Businessman
Born: January 1, 1924

We have new rules that give shareholders the ability to vote on executive compensation. We have new rules for asset-backed securities. We have new rules around credit rating agencies.

Mary Schapiro

But all fairytales have rules, and perhaps it’s their rules that actually distinguish one fairytale from the other. These rules never need to be understood. They only need to be followed. If not, what they promise won’t come true.

Jostein Gaarder

Rules matter, and to be rules they need to be universal in form: always do this, never do that. But it is foolish to rule out in advance the possibility that an occasion might arise when normal rules just don't apply. Rules are not there to be broken, but sometimes break them we must.

Julian Baggini

When you got mechanisms in a car that prevent damage from happening to the engine and that operate under very specific circumstances, those things are exceptions under normal operating conditions of the car; under the rules, they need to be disclosed.

Sergio Marchionne

Generally, there are three rules when it comes to borrowing money: You need to have good credit, proof of income and cash for a down payment. Most people have the first two, but it's the third that trips them up. And nowhere does that come into play more than the mortgage market.

Jean Chatzky

Fannie Mae and Freddie Mac - two bloated and corrupt government-sponsored programs - contributed heavily to the crisis.In order to prevent another crisis, we need to do what we should have done years ago - reform Fannie Mae and Freddie Mac. We also need to repeal Dodd-Frank, the Democrats' failed solution. Under Dodd-Frank, 10 banks too big to fail have become five banks too big to fail. Thousands of community banks have gone out of business.

Carly Fiorina

What degree of proof about the human catastrophe from global climate change do we need, before we are motivated to act to prevent it?

Eric Chivian

Broadly Americans agree that women need access to health care to prevent medical disasters and to prevent pregnancy.

Sandra Fluke

There are certain things that we can deal with by following the rules. But at times, we find the rules restrict you from doing the right things. On such occasions, we have to rethink - either you change the rules or break the rules.

Mahathir Mohamad

But sticking to rules just because they're there does not make them right. You need to learn when the rules should be broken.

Ilsa J. Bick

Everybody knows if you have the rules, you need to follow the rules and do exactly what you need to do.

Jose Aldo

Rules are foolish, arbitrary, mindless things that raise you quickly to a level of acceptable mediocrity, then prevent you from progressing further.

Bruce Barnbaum

There is going to be globalization, but we need to do it under terms - under rules that work as rules work for our domestic economy on the dynamic of capitalism. You need to do trade in the same way.

Sherrod Brown

Once you have hierarchy you need rules to protect and administer it, and then you need law and the enforcement of the rules, and you end up with some kind of chain of command or system of order that destroys relationship rather than promotes it. Hierarchy imposes laws and rules and you end up missing the wonder of relationship that we intended for you.

William P. Young

In reality, moral rules are directions for running the human machine. Every moral rule is there to prevent a breakdown, or a strain, or a friction, in the running of that machine. That is why these rules at first seem to be constantly interfering with our natural inclinations.

C. S. Lewis

In terms of energy sectors, we need coal; we need oil; we need gas; we need uranium. And we need to have rules and regulations that allow those companies to stay in business.

Matt Mead

A Quote by Charlie Munger

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