Quote of the day: Michael Douglas as Gordon Gekko

| 11 October 2008 13:30

Ben Bernanke and Alan Greenspan have been the worst monetary stewards in U.S. Federal Reserve history. A former Fed Chairman William McChesney Martin Jr. once said it was the Fed’s job “to take away the punch bowl just as the party gets going.” Alan Greenspan and Ben Bernanke, with their easy money polices, failed to do so. Their role is one of oversight, not befriending Wall Street.

Therefore, I must quote from Michael Douglas in the classic 80s movie “Wall Street“:

If you need a friend, get a dog.
-Gordon Gekko

Something for Chairman Bernanke to think about. Oh, and check out the mobile phone Michael Douglas is using in the movie — doesn’t exactly fit in the pocket, eh? I love the 80s.


avatar About Edward Harrison

Edward Harrison is the founder of Credit Writedowns and a former career diplomat, investment banker and technology executive with over twenty years of business experience. He is also a regular economic and financial commentator on BBC World News, CNBC Television, Business News Network, CBC, Fox Television and RT Television. He speaks six languages, a skill he uses to provide a more global perspective. Edward holds an MBA in Finance from Columbia University and a BA in Economics from Dartmouth College.

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3 Comments

  1. avatar Anonymous says:
    11 October 2008 at 14:48

    I love the movie. Great entertainment and it is inspirational to young greedy wallstreet pigs(or not).

    Supposedly there is a sequel coming up. The last few months should give enough fodder for movie.

  2. avatar Wag the Dog says:
    11 October 2008 at 18:51

    Supposedly there is a sequel coming up. The last few months should give enough fodder for movie.

    And a lot of cheap commercial office space. They might even be able to shoot on location.

  3. avatar Edward Harrison says:
    12 October 2008 at 21:20

    I look forward to the sequel. It will probably have some social commentary on the period of finance we just left behind.