WIST Quotations

Cicero, Marcus Tullius -- Pro Sestio [For Publius Sestius], ch. 46 / sec. 99 (56-02 BC) [tr. Yonge (1891)]

Dave — Thu, 05 Mar 2026 19:26:03 +0000

In truth, in such a vast number of citizens, there is a great multitude of those men, who either, from fear of punishment, because they are conscious of their own misdeeds, are anxious for fresh changes and revolutions in the republic; or who, on account of some innate insanity of mind, feed upon the discords and seditions of the citizens; or else who, on account of the embarrassment of their estates and circumstances, had rather burn in one vast common conflagration, than in one which consumed only themselves.

[Etenim in tanto civium numero magna multitudo est eorum qui aut propter metum poenae, peccatorum suorum conscii, novos motus conversionesque rei publicae quaerant, aut qui propter insitum quendam animi furorem discordiis civium ac seditione pascantur, aut qui propter implicationem rei familiaris communi incendio malint quam suo deflagrare.]

Marcus Tullius Cicero (106-43 BC) Roman orator, statesman, philosopher
Pro Sestio [For Publius Sestius], ch. 46 / sec. 99 (56-02 BC) [tr. Yonge (1891)]
(Source)

(Source (Latin)). Other translations:

For in so great a number of citizens there is a great multitude of those who either seek after revolutions and changes of government, on account of their fear of punishment, being conscious of their misdeeds, or who from a certain innate frenzy of mind take delight in civil broils and seditions, or who, on account of pecuniary embarrassments, prefer rather to perish in one common conflagration than in one by themselves.
[tr. Hickie (1888)]

For, in so large a body of citizens, there are great numbers of men who, either from fear of punishment, being conscious of their crimes, seek to cause revolution and changes of government; or who, owing to a sort of inborn revolutionary madness, batten on civil discord and sedition; or who, on account of embarrassment in their finances, prefer a general conflagration to their own ruin.
[tr. Gardner (Loeb) (1958)]

Addison, Joseph -- Essay (1711-10-09), The Spectator, No. 191

Dave — Mon, 18 Aug 2025 18:01:45 +0000

The man who will live above his present circumstances is in great danger of living in a little time much beneath them; or as the Italian proverb runs, “The man who lives by hope, will die by hunger.”

Joseph Addison (1672-1719) English essayist, poet, statesman
Essay (1711-10-09), The Spectator, No. 191
(Source)

Rogers, Will -- Column (1927-02-06), “Weekly Article”

Dave — Fri, 16 May 2025 17:09:28 +0000

If a bank fails in China, they behead the man at the top of it that was responsible. If one fails over here, we write the men up in the magazines as how: They started poor, worked hard, took advantage of their opportunities (and Depositors) and today they are rated as “up in the millions.” If we beheaded all of ours that were responsible for bank failures, we wouldn’t have enough people left to bury the heads.

Will Rogers (1879-1935) American humorist
Column (1927-02-06), “Weekly Article”
(Source)

The idea that in China the leadership of banks that fail is executed pre-dates Rogers, e.g., 1893, 1908, 1922.

Rogers, Will -- Column (1930-06-30), “Daily Telegram: Mr. Rogers Virtually Agrees with Barnum’s Famous View” [No. 1226]

Dave — Fri, 09 May 2025 17:52:18 +0000

We are a good natured bunch of saps in this country. […] When a bank fails, we let the guy go start another one.

Will Rogers (1879-1935) American humorist
Column (1930-06-30), “Daily Telegram: Mr. Rogers Virtually Agrees with Barnum’s Famous View” [No. 1226]
(Source)

Lowell, James Russell -- Poem (1843-12), “The Heritage,” st. 2, The Knickerbocker, Vol. 22., No. 6

Dave — Wed, 05 Feb 2025 17:04:43 +0000

The rich man’s son inherits cares;
The bank may break, the factory burn,
A breath may burst his bubble shares,
And soft, white hands could hardly earn
A living that would serve his turn;
A heritage, it seems to me,
One would not care to hold in fee.

James Russell Lowell (1819-1891) American diplomat, essayist, poet
Poem (1843-12), “The Heritage,” st. 2, The Knickerbocker, Vol. 22., No. 6
(Source)

In later collections, the last line reads, "One scarce would wish to hold in fee."

Hemingway, Ernest -- The Sun Also Rises, ch. 13 (1926)

Dave — Tue, 08 Mar 2022 22:41:42 +0000

“How did you go bankrupt?” Bill asked.

“Two ways,” Mike said. “Gradually and then suddenly.”

Ernest Hemingway (1899-1961) American writer
The Sun Also Rises, ch. 13 (1926)
(Source)

Greenwood, Kerry -- Phryne Fisher No. 5, The Green Mill Murder (1993)

Dave — Thu, 02 Nov 2017 18:35:43 +0000

“Come on, now. Home we go and a nice cuppa,” said Mr. Butler, who was convinced that tea was the cure for most female ills, from miscarriage to bankruptcy.

Kerry Greenwood (b. 1954) Australian author and lawyer
Phryne Fisher No. 5, The Green Mill Murder (1993)

Keynes, John Maynard -- (Attributed)

Dave — Tue, 11 Apr 2017 20:23:10 +0000

Markets can remain irrational a lot longer than you and I can remain solvent.

John Maynard Keynes (1883-1946) English economist
(Attributed)

Generally credited to Keynes, but the earliest reference found is by financial analyst A. Gary Shilling, "Scoreboard," Forbes (15 Feb 1993). More discussion here.

Sometimes given as "Markets can remain irrational longer than you can remain solvent" or "Markets can stay irrational longer than you can stay solvent."

Stout, Rex -- The League of Frightened Men, ch. 7 [Wolfe] (1935)

Dave — Mon, 11 Jan 2010 21:57:15 +0000

To be broke is not a disgrace, it is only a catastrophe.

Rex Stout (1886-1975) American writer
The League of Frightened Men, ch. 7 [Wolfe] (1935)
(Source)