“The worst day-to-day operators of businesses are bankers.”

“The poor are so busy trying to survive from one day to the next, they haven’t the time or energy to keep score.”

“After the stock market crash, some New York editors suggested that hearings be held: what had really caused the Depression? They were held in Washington. In retrospect, they make the finest comic reading. The leading industrialists and bankers testified. They hadn’t the foggiest notion what had gone bad. You read a transcript of that record today with amazement: that they could be so unaware. This was their business, yet they didn’t understand the operation of the economy. The only good witnesses were the college professors, who enjoyed a bad reputation in those years. No professor was supposed to know anything practical about the economy.”

“How come you don't work fourteen hours a day? Your great-great-grandparents did. How come you only work the eight-hour day? Four guys got hanged fighting for the eight-hour day for you.”

“In the meantime, I would work in the relief office and I began interviewing people . . . and found out how everybody, in order to be eligible for relief, had to have reached absolute bottom. You didn’t have to have a lot of brains to realize that once they reached that stage and you put them on an allowance of a dollar a day for food—how could they ever pull out of it?”

“I presumably lost $150,000 in the depression of 1937—on my one stock investment—because I did everything Lehman Brothers told me. I said, well, this is a fool’s procedure . . . buying stock in other people’s businesses.”

“It was in ’35—we had this campaign to raise a million tax dollars. In the town of Phillips, one evening, during a blizzard, I was met by a crowd of miners. They were given the day off and a stake to attend this meeting. They surrounded me and said this tax would cost six hundred of them their jobs. They were busted farmers and fortunately found a job in these Home Stake mines. I went back home feeling worried. But the tax was passed, and not a single miner lost his job.”