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If my acceptance of the office of Governor would serve my country, though my administration would be attended with the loss of personal credit and reputation, I would cheerfully undertake it. ↗
We judged that a sudden, disorderly failure of Bear would have brought with it unpredictable but severe consequences for the functioning of the broader financial system and the broader economy, with lower equity prices, further downward pressure on home values, and less access to credit for companies and households. ↗
Memorizing someone else’s explanation of the truth isn’t the same as seeing the truth for yourself. It is what it is—the memorization of second-hand knowledge. It is not your experience. It is not your knowledge. And no matter how much material is learned by rote, and no matter how eloquently we can speak about the memorized information, we’re clinging to a description of something that’s not ours. What’s more, the description is never the item itself. By holding onto our impression of certain descriptions, we frequently are unable to see the real thing when it’s right before our eyes. We are conditioned by memorizing and believing concepts—the truth of which we’ve never genuinely seen for ourselves. ↗
