Quotable Quotes: Wall Street
by Miki Saxon
I ran across this comment by Joseph Mason, professor of finance at Louisiana State University in an article I was reading and I couldn’t resist sharing it with you.
“Wall Street will always have more lawyers and more accountants and more brains than the regulators.”
So I scavenged around and found a few more to make up today’s QQ list.
Let’s start with a Wall Street proverb that sounds as if it were written by Goldman.
“Buy on the rumor; sell on the news.”
Economist Paul A. Samuelson also seems to have a fairly jaundiced view of Wall Street;
“The stock market has forecast nine of the last five recessions”
I can’t imagine why, can you?
This next one is from everybody’s favorite crook, Bernard Madoff. Knowing what we know now makes this comment even more ironic.
“Whenever I go down to Washington and meet with the SEC and complain to them that the industry is either over regulated or the burdens are too great they all start to roll their eyes, just like all of our children do when we talk about the good old days.”
But it’s will Rogers who gets the last word today.
“Let Wall Street have a nightmare and the whole country has to help get them back in bed again”
Image credit: http://www.flickr.com/photos/stoneford/2671172459/
