'Inflation is a kind of governmentally sanctioned white-collar crime. Every crime needs a dupe. Now that the Fed has announced its plan to deceive, where will it find its victims?' - James Grant
'I have spoken to the heads of various Wall Street equity derivative trading desks and every single one of the senior managers told me that Bernie Madoff was a fraud. Of course no one wants undue career risk by sticking their head up and saying that the emperor isn't wearing any clothes. As a result of this case several careers on Wall Street and in Europe will be ruined. Therefore, I have not signed nor put my name on this report. I am worried about the personal safety of myself and my family.'
-Harry Markopolos in 2005.
'To me the SEC is utterly irrelevant. It is the federal fig leaf over the securities market. Bring back Joe Kennedy ... bring back free markets ... get rid of these people.' - James Grant
'It was essentially the leveraged buyout of the U.S. Household, fueled by delusions that a national house recession wouldn't happen. Consumer spending won't come back. Not quickly, and not for many years.' -David Hendler
'Picking off Spain's wealthiest was like clubbing seals.' - Anonymous business consultant