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Monday, September 20, 2010

BS Quotes of the Day

Unlike previous Quotes of the Day, this is from this year, Sept 20, 2010:

From Charlie Munger, VP of Berkshire Hathaway, the diversified investment corporation chaired by Warren Buffett: 

Explaining how the bailouts under Presidents George W. Bush and Barack Obama were 'absolutely required'--

“Hit the economy with enough misery and enough disruption, destroy the currency, and God knows what happens.  So I think when you have troubles like that you shouldn’t be bitching about a little bailout. You should have been thinking it should have been bigger.”

On whether the government should have bailed out homeowners instead of Wall Street--

“You’ve got it exactly wrong.  There’s danger in just shoveling out money to people who say, ‘My life is a little harder than it used to be'.   At a certain place you’ve got to say to the people, ‘Suck it in and cope, buddy. Suck it in and cope.’”

~ Berkshire Hathaway received $95billion in TARP bailouts

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