Wed 24 Jun 2009
Quote du Jour: “Because that’s where the REAL money is.”
Posted by Prieur du Plessis under Economy, Investment
Today’s quote du jour comes from Barry Ritholtz, editor of The Big Picture blog and author of Bailout Nation, who said:
“The new ‘Banksters’ are proving Willie Sutton [prolific US bank robber] wrong. Sutton famously answered the question ‘Why do you rob banks?‘ by saying ‘Because that’s where the money is‘.
“Ahhh, the good old days, when robbers used guns to hold up a single bank and tried to steal money $10,00 at a time!
“Sutton was small time. The real money is in emptying out the Treasury, trillions of dollars at a time.
“Why? ‘Because that’s where the REAL money is.‘”
More on this topic
(What's this?)
Guest Post: Greenspan Says Worst Financial Crisis EVER, INCLUDING the Great Depression
(naked capitalism, 2/23/10)
The U.S. opts for the bailout hustle over the Swedish banking crisis response
(naked capitalism, 2/22/10)
Seth Klarman's Investment Lessons From the Financial Crisis
(market folly, 3/5/10)
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