“Some economists, when thinking about long memory, are concerned that it undercuts the Efficient Market Hypothesis that prices fully reflect all relevant information; that the random walk is the best metaphor to describe such markets; and that you cannot beat such an unpredictable market. Well, the Efficient Market Hypothesis is no more than that, a hypothesis. Many a grand theory has died under the onslaught of real data.” Benoît B. Mandelbrot
"Pardon one offence, and you encourage the commission of many."
Publilius Syrus
“And the banks - hard to believe in a time when we're facing a banking crisis that many of the banks created - are still the most powerful lobby on Capitol Hill. And they frankly own the place.”
Dick Durbin, US Senator From Illinois
"And there is a kind of an 'ok guys, you're mad, how are you going to stop me' mentality at the top."
Robert Johnson, economist
