Tuesday, July 14, 2009

Quotes of the day

... there is no such thing as coherent, logical, orderly, causally structured human history. Instead, all there is, is a congregation of separate threads, processes, contingencies, actions, choices, ideologies, and freakish accidents that ultimately do not add up to a coherent whole.--Daniel Little

In the fifteenth and sixteenth centuries, Florence, Genoa, and Venice were the financial capitals of the Western world. When they declined, financial leadership shifted to Amsterdam, then to London, and finally to New York, whose supremacy went unchallenged from 1945 until the end of the twentieth century. ... The Founding Fathers wisely decided that the nation’s political capital should be separate from its financial capital (in both senses of the word). Now this splendid segregation has ended. If the outcome of the Chrysler bankruptcy is any indication, Washington is willing to flex its muscle in financial decisions, altering the substance of contracts freely agreed to by private parties. In so doing, the national government has undermined the certainty of the rule of law, which was the American capital market’s strongest asset.--Luigi Zingales

Don't look now, but the Red Sox may have themselves the best lefthander in baseball.--Tony Massaroti

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