Capitalism and risk
Posted: Wednesday, March 12, 2008 ~ 9:35 PM
Capitalism and risk. Great quote from Jim Rogers, CEO of Rogers Holdings, talking about the moves the US government is making to financially support investment banks that made bad business decisions around the mortgage mess in the US:
"Listen, investment banks have been going bankrupt since the beginning of time. If people make mistakes -- if you bail out every investment bank that gets in trouble, that's not capitalism, that's socialism for the rich."