Quotes of the day

The society that puts equality before freedom will end up with neither. The society that puts freedom before equality will end up with a good measure of both.--Milton Friedman

When buying and selling are controlled by legislation, the first things to be bought and sold are legislators.--P. J. O'Rourke

If government were the answer to preventing recessions, why are we in a recession in the first place?--Joe Weisenthal

If you keep a [regulatory] system in place long enough, banks will naturally learn to game it and it will become dysfunctional.--Arnold Kling

If you work for the enforcement division of the S.E.C. you probably know in the back of your mind, and in the front too, that if you maintain good relations with Wall Street you might soon be paid huge sums of money to be employed by it.--Michael Lewis & David Einhorn

What’s remarkable about [Ed] Reed is his ability to return inceptions for big yardage. He has 43 career regular season inceptions, which ties him for 58th place all-time. For yardage, however, Reed has 1,144 yards which ranks him sixth all-time.--Eddy Elfenbein