Reflecting on the market turmoil today, Marshall Auerback had a funny if ironic thought:
Our beloved Treasury Secretary promised us Financial Armageddon if we didn’t pass his wretched bill a few weeks ago. I wonder how he would describe this?
Beloved is one way to describe Hank Paulson.
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I love Jamie Dimon, JPMorgan Chase’s CEO. He really tells it like it is. At last quarter’s earnings call, he called a spade a spade and said “prime looks terrible” in reference to prime mortgage loans.
This quarter his quote is even more to the point:
“If You Are Not Fearful, You Are Crazy.”
-Deal Book
Words [...]

This comes from the Huffington Post:
“Jobs, baby, jobs.”

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This comes from Politico:
Reprising a line she’s been delivering on stage with McCain since the GOP convention, Palin said of her running mate this morning in Virginia Beach: “Since he won’t say it on his own behalf, I’m gonna say it for my running mate here: There is only one man in this race who [...]

Talking about how he will fare against Barack Obama in the upcoming third and last U.S. Presidential Debate, John McCain said:
“We’re going to spend a lot of time and after I whip his you-know-what in this debate, we’re going to be going out 24/7.-Huffington Post

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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, [...]

Jeremy Grantham has seen this crash coming for quite some time. Nevertheless, he is not selling everything and waiting out the market in Kruggerrands and cash. has kept a good long-term perspective about investing that bears repeating here.

Keep telling yourself every night that you’re a long-term investor and don’t look at daily [...]

With blood on the street and one flagging financial institution after another gasping for dear life, a quote from the Movie “Wall Street” bears remembering:
In the last seven deals that I’ve been involved with, there were 2.5 million stockholders who have made a pretax profit of 12 billion dollars. Thank you. I am not a [...]

Today, David Wighton over at the Times Online referenced U.S. Treasury Secretary Hank Paulson’s quip that the U.S. Government had a bazooka ready to us in the case of the Frannie and Freddie Nightmare on Wall Street in saying:
Helping to stabilise the U.S. housing market should bring some benefit to British counterparts. It will also [...]

Obama mentor Joe Lieberman is going all out for Obama’s opponent in order to defeat Obama. Why, you ask, when he made quotes like this one in 2006 (via Political Wire):
“The gifts that God has given to Barack Obama are as enormous as his future is unlimited. As his mentor, as his colleague, [...]