A Quote by Warren Buffett
This economy doesn't work well without the lubrication of credit and trust.
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Trust is the lubrication that makes it possible for organizations to work.
Moving parts in rubbing contact require lubrication to avoid excessive wear. Honorifics and formal politeness provide lubrication where people rub together. Often the very young, the untravelled, the naive, the sophisticated deplore these formalities as 'empty,' 'meaningless,' or 'dishonest,' and scorn to use them. No matter how 'pure' their motives, they thereby throw sand into machinery that does not work too well at best.
Without public investment, without families spending, without cheap credit, the economy won't recover.
It's been my experience that the people who gain trust, loyalty, excitement, and energy fast are the ones who pass on the credit to the people who have really done the work. A leader doesnt need any credit... He's getting more credit than he deserves anyway.
I think what grows the economy is when you get that tax credit that we put in place for your kids going to college. I think that grows the economy. I think what grows the economy is when we make sure small businesses are getting a tax credit for hiring veterans who fought for our country. That grows our economy.
So what is the role that credit default swaps can play in an economy? Well my feeling is that if these things actually will now be traded on either exchanges or some kind of central clearing, they are going to be a very good measure of the credit worthiness of different companies.
Lead, don't drive. And give credit. Don't blame. If an officer on your team suggested something and it worked well, give them credit. If it doesn't work well, you take the blame because you made the decision.
You can get a lot done when you don't care about credit. My name was not on Medicaid expansion, but it never would have happened without the work that I did. The best leaders are the ones that want results, not credit.
The leader is a teacher who succeeds without taking credit. And, because credit is not taken, credit is received.
I hate this shallow Americanism which hopes to get rich by credit, to get knowledge by raps on midnight tables, to learn the economy of the mind by phrenology, or skill without study, or mastery without apprenticeship.
Credit means that a certain confidence is given, and a certain trust reposed. Is that trust justified? And is that confidence wise? These are the cardinal questions. To put it more simply credit is a set of promises to pay; will those promises be kept?
If employees feel you don't trust them to do their jobs correctly and well, they'll be reluctant to do much without your approval. On the other hand, when they feel trusted, that you believe they'll do the right things well, they'll naturally want to do things well and be deserving of your trust.
All my films were based on sensitive issues, and they were passed without any problems. I give full credit to the Censor Board for being capable enough to do their work well.
The economy is turning, and credit comes in with a lag, .. To the extent that a number of small firms are finding it difficult to get the credit they need at a price they can afford, that's likely to change for the better.
I think the credit default swaps can take the place of the rating agencies who really have missed the ball in this procedure and are quite conflicted by the way the ratings are paid for. So, I would like to see credit default swaps become an evermore important way of understanding credit risk in the economy.
I think the economy in the US has surprised. The old adage is that if America sneezes, the rest of the world catches a cold. If the US economy does well, the global economy will do well.
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