Today the Iraqi and Afghan people are on the path to democracy and freedom. The governments that are rising will pose no threat to others. Instead of harboring terrorists, they're fighting terrorist groups. And this progress is good for the long-term security of all of us.
America is addicted to oil and increasing amounts of this oil comes from abroad. Some of the nations we depend on for oil have unstable governments or are hostile towards the United States.
... the community suffers nothing very terrible if its cobblers are bad and become degenerate and pretentious; but if the Guardians of its laws and constitution, who alone have the opportunity to bring it good government and prosperity, become a mere sham, then clearly it is completely ruined.
I've been in and out of Wall Street since 1949, and I've never seen the type of animosity between government and Wall Street. And I'm not sure where it comes from, but I suspect it's got to do with a general schism in this society which is really becoming ever more destructive.
[The U.S. Treasury] can borrow basically unlimited amounts. They can stay there for years and years. These assets will be worth more money over time. So when Merrill Lynch sells a bunch of mortgage-related assets at 22 cents on the dollar like they did a month or so ago, the buyer goes - is going to make money, and he's going to make a lot more money if it happens to be an institution like the U.S. government which has very, very cheap borrowing costs.
Behind the ostensible government sits enthroned an invisible government owing no allegiance and acknowledging no responsibility to the people. To destroy this invisible government, to befoul the unholy alliance between corrupt business and corrupt politics is the first task of the statesmanship of today.
When Berkshire Hathaway laid out three billion dollars for GE today, we didn't spend it, we invested it. When the Federal government buys the mortgages, they're not spending it, they're investing it. Now, they're investing it in distress type assets but they're buying them at distress prices if they buy them at market. It's the kind of stuff I love to do. I just don't have 700 million. Maybe we could go in it together.
Censor, n. An officer of certain governments, employed to supress the works of genius. Among the Romans the censor was an inspector of public morals, but the public morals of modern nations will not bear inspection.
Faith-based organizations also need a guarantee they will not be forced to give up their right to hire people of their own faith as the price of competing for federal money. If we want this program to be effective and to save lives, people have got to say interfacing with government will not cause me to lose my mission.