Quotes of the day

What's the difference between a journalist and a watchdog? Rabies.--James Taranto

It's a little scary that the world's largest insurance company hasn't planned for a rainy day.--Tyler Cowen

You can argue that nobody is ready to be president. You can argue that even if you've been vice president for eight years, that no one can be fully ready for the pressures of the office--Bill Clinton

By allowing firms that took excessive risks to fail, regulators also reduce the political pressure to overregulate the system in the aftermath of the crisis. Let's hope they hang tough for at least a little while longer. --Ken Rogoff