Preferred Stock Quotes

That goes back to 1932, although it was really implemented in '33 under Jesse Jones, and it invested in mostly banks initially and preferred stock and that sort of thing. So there are two things needed in the system, the one that's needed overwhelmingly is liquidity. I mean, when people are trying to [unintelligible], there has to be somebody there to buy.

Making money from enforcing patents is no more wrong than investing in preferred stock.

It takes 150 years to build an investment bank and only five minutes to convince you to sell me preferred stock in it at a 10% interest rate.

I think you'll have plenty of scrutiny as how the money's invested. I mean, just like the RFC. When the RFC operated, people knew which institutions they were buying preferred stock in. And it worked very well.

I don't think it would be crazy to have a model or an entity model on the Reconstruction Finance Corp. That goes back to 1932, although it was really implemented in '33 under Jesse Jones, and it invested in mostly banks initially and preferred stock and that sort of thing.

Further strengthenings of the self-centered instinct for survival recruit even greater numbers of people into some sort of ring of fellowship (church or gender, red state or blue) by populating the terra incognita outside the ring with enough barbarians to verify the existence of a civilization within--to define the preferred stock by what, as all good people agree, it decidedly is not.