Jul 14, 2008

Jim Rogers Denounces the Federal Reserve

Jim Rogers had a few spectacular quotes from his interview today with Bloomberg. The discussion focused on the recent government plan to bail out Fannie and Freddie. Here are a few of my favorite quotes from Rogers: 
  1. "I don't know where these guys get the audacity to take our money, taxpayer money, and buy stock in Fannie Mae."
  2. "These companies were going to go bankrupt if they hadn't stepped in to do something, and they should've gone bankrupt with all of the mistakes they've made."
  3. "What's going to happen when you Band-Aid and put some Band-Aids on it for another year or two or three? What's going to happen three years from now when the situation's much, much, much worse?"
  4. "[Bernanke and Paulson] are ruining what has been one of the greatest economies in the world."
  5. "[Bernanke and Paulson] are bailing out their friends on Wall Street but there are 300 million Americans that are going to have to pay for this."

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