Hope sustains life, but misplaced hope prolongs recessions.

[C]apitalism without financial failure is not capitalism at all, but a kind of socialism for the rich.

It's about bums on seats. If nobody wants to listen to what you are doing, it kind of defeats the purpose really, doesn't it?

Growth at an exceptional rate is a red flag in banking. It is hard enough to manage an ordinary bank; to control a sprouting weed is well-nigh impossible. If loans are expanding too quickly, the lending officers have probably been saying 'yes' too frequently.

The Fed can change how things look, not how things are

I believe that there is an important kernel of truth in the idea that financial errors recur every other generation.

Hope sustains life, but misplaced hope prolongs recessions.