#finance

Suckers think that you cure greed with money, addiction with substances, expert problems with experts, banking with bankers, economics with economists, and debt crises with debt spending ↗

— Nassim Nicholas Taleb

#banking #economics #expertise #experts #finance

This book is an essay in what is derogatorily called "literary economics," as opposed to mathematical economics, econometrics, or (embracing them both) the "new economic history." A man does what he can, and in the more elegant - one is tempted to say "fancier" - techniques I am, as one who received his formation in the 1930s, untutored. A colleague has offered to provide a mathematical model to decorate the work. It might be useful to some readers, but not to me. Catastrophe mathematics, dealing with such events as falling off a height, is a new branch of the discipline, I am told, which has yet to demonstrate its rigor or usefulness. I had better wait. Econometricians among my friends tell me that rare events such as panics cannot be dealt with by the normal techniques of regression, but have to be introduced exogenously as "dummy variables." The real choice open to me was whether to follow relatively simple statistical procedures, with an abundance of charts and tables, or not. In the event, I decided against it. For those who yearn for numbers, standard series on bank reserves, foreign trade, commodity prices, money supply, security prices, rate of interest, and the like are fairly readily available in the historical statistics. ↗

— Charles P. Kindleberger

#economics #finance #statistics #money

In Chapter 5 we consider swindles and defalcations. It happens that crashes and panics often are precipitated by the revelation of some misfeasance, malfeasance, or malversation (the corruption of officials) engendered during the mania. It seems clear from the historical record that swindles are a response to the greedy appetite for wealth stimulated by the boom. And as the monetary system gets stretched, institutions lose liquidity, and unsuccessful swindles are about to be revealed, the temptation to take the money and run becomes virtually irresistible. It is difficult to write on this subject without permitting the typewriter to drip with irony. An attempt will be made. ↗

— Charles P. Kindleberger

#finance #money

(…) my money guy Richard is going without a tie now, like a politician who wants to appeal to the suffering common man (or perhaps every morning his firm takes the ties and shoelaces away from the brokers and financial planners to keep them from offing themselves) ↗

— Jess Walter

#finance #humor #suicide #money

Money is the last taboo. People will talk about their sex lives before they discuss their finances. Mac McGregor, Insiders ↗

— Marvin H McIntyre

#money #sex #money

Down with the Miserable Moneygrumps ™! ↗

— Melissa D. Stiveson

#how-to #melissa-d-stiveson #melissa-stiveson #miserable-moneygrumps #personal-budget

Be a Cinchy Saver ™! ↗

— Melissa D. Stiveson

#melissa-d-stiveson #melissa-stiveson #miserable-moneygrump #personal-budget #personal-finances

Ignorance is bliss, except when it hurts ↗

— Paul Knott

#humor #money #money

The first thing you need to know about Goldman Sachs is that it's everywhere. The world's most powerful investment bank is a great vampire squid wrapped around the face of humanity, relentlessly jamming its blood funnel into anything that smells like money. ↗

— Matt Taibbi

#greed #money #power #money

You still could go to some industry or some university or the government and if you could persuade them you had something on the ball—why, then, they might put up the cash after cutting themselves in on just about all of the profits. And, naturally, they'd run the show because it was their money and all you had done was the sweating and the bleeding. ↗

— Clifford D. Simak

#corporate-greed #finance #government-financing #grants #rights