A preoccupation with the so-called bottom line of profit and loss statements, coupled with a lust for expansion, is creating an environment in which fewer businessmen honor traditional values; where responsibility is increasingly disassociated from the exercise of power; where skill in financial manipulation is valued more than actual knowledge and experience in the business; where attention and effort is directed mostly to short-term considerations, regardless of longer range consequences.
Hyman Rickover (1900-1986) Polish-American naval engineer, admiral [b. Chaim Gdala Rykower]
Speech (1982-01-28), Joint Economic Committee, U.S. Congress, 97th Congress, 2nd Session
(Source)
Quotations about:
finances
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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)
And is it not the chief good of money, the being free from the need of thinking of it?
I took such pains not to keep my money in the house, but to put it out of the reach of burglars by buying stock, and had no guess that I was putting it into the hands of these very burglars now grown wiser and standing dressed as Railway Directors.
Everybody thought, “this time is different.” In my view, those are the most frightening words in the English language. If you look at the crises that have infected the world, the term, “this time, it’s different” has almost always been the hubris that comes before nemesis.
Andrew Crockett (1943-2012) British banker, economist, author, public servant
Speech, Pomona College, Claremont, Calif. (Apr 2009)
(Source)
Referring to the period leading up to the 2008 financial crisis.
