That goes back to 1932, although it was really implemented in '33 under Jesse Jones, and it invested in mostly banks initially and preferred stock and that sort of thing. So there are two things needed in the system, the one that's needed overwhelmingly is liquidity. I mean, when people are trying to [unintelligible], there has to be somebody there to buy.
Then you should say what you mean," the March Hare went on. "I do," Alice hastily replied; "at least--at least I mean what I say--that's the same thing, you know." "Not the same thing a bit!" said the Hatter. "You might just as well say that "I see what I eat" is the same thing as "I eat what I see"!
He who is usually self-sufficient becomes exceptionally vain and keenly alive to fame and praise when he is physically ill. The more he loses himself the more he has to endeavor to regain his position by means of the opinion of others.
If one holds these high principles clearly before one's eyes, and compares them with the life and spirit of our times, then it appears glaringly that civilized mankind finds itself at present in grave danger. In the totalitarian states it is the rulers themselves who strive actually to destroy that spirit of humanity. In less threatened parts it is nationalism and intolerance, as well as the oppression of the individuals by economic means, which threaten to choke these most precious traditions.
Responsibility to yourself means that you don't fall for shallow and easy solutions-it means that you refuse to sell your talents and aspirations short.
To evoke in oneself a feeling one has once experienced, and having evoked it in oneself, then by means of movements, lines, colors, sounds, or forms expressed through words, so to convey this so that others may experience the same feeling - this is the activity of art.
The American economy is going to do fine. But it won't do fine every year and every week and every month. I mean, if you don't believe that, forget about buying stocks anyway... It's a positive-sum game, long term. And the only way an investor can get killed is by high fees or by trying to outsmart the market.
I've got a stomach now as well as a behind. And I mean - well, you can't pull it in both ways, can you? ... I've made it a rule to pull in my stomach and let my behind look after itself.
The soil needs the seed and the seed needs the soil. The one only has meaning with the other. It is the same thing with human beings. When male knowledge joins with female transformation, then the great magical union is created, and its name is wisdom. Wisdom means both to know and to transform.
I continue to care for President Obama and for his family. I think that in many ways they are very courageous people, and I honor that, because I know what it means to live as a black person in a racist America.
Circumstances which we have resented, situations which we have found desperately difficult, have all been the means in the hands of God of driving the nails into the self-life which so easily complains.
Christian theology teaches the doctrine of prevenient grace, which briefly stated means this, that before a man can seek God, God must first have sought the man.
None of this means, however, that a business or stock is an intelligent purchase simply because it is unpopular; a contrarian approach is just as foolish as a follow-the-crowd strategy. What's required is thinking rather than polling. Unfortunately, Bertrand Russell's observation about life in general applies with unusual force in the financial world: "Most men would rather die than think. Many do."