Earnings can be pliable as putty when a charlatan heads the company reporting them.

First, many in Wall Street - a community in which quality control is not prized - will sell investors anything they will buy.

I think you'll have plenty of scrutiny as how the money's invested. I mean, just like the RFC. When the RFC operated, people knew which institutions they were buying preferred stock in. And it worked very well.

We simply attempt to be fearful when others are greedy and to be greedy only when others are fearful.

The problem with commodities is that you are betting on what someone else would pay for them in six months. The commodity itself isn't going to do anything for you....it is an entirely different game to buy a lump of something and hope that somebody else pays you more for that lump two years from now than it is to buy something that you expect to produce income for you over time.

If you're in a card game and you can't figure out who the patsy is, you're it.

If you can eliminate the government as a 39.6% partner, then you will be much better off.