"When a management with a reputation for brilliance tackles a business with a reputation for bad economics, it is the reputation of the business that remains intact."

"Risk is a part of God's game, alike for men and nations."

"Americans are in a cycle of fear which leads to people not wanting to spend and not wanting to make investments, and that leads to more fear. We'll break out of it. It takes time."

"Economic medicine that was previously meted out by the cupful has recently been dispensed by the barrel. These once unthinkable dosages will almost certainly bring on unwelcome after-effects. Their precise nature is anyone's guess, though one likely consequence is an onslaught of inflation."

"My work is the only ground I've ever had to stand on. To put it bluntly, I seem to have a whole superstructure with no foundation, but I'm working on the foundation."

"I don't know that there is much the United States can do except work with the international community."

"Our main business is not to see what lies dimly at a distance, but to do what lies clearly at hand."

"Adam Smith pointed out that there were three things that make us more prosperous, in a general sort of way: freedom to pursue our own self-interest; specialization, which he called division of labor; and freedom of trade."