"As a rule, panics do not destroy capital; they merely reveal the extent to which it has been destroyed by its betrayal into hopelessly unproductive works."
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article read before the Manchester Statistical Society, December 11, 1867, on Credit Cycles and the Origin of Commercial Panics
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Reader comments about this quote:
 -- Mike, Norwalk      
Excellent, and all too relevant to today's capital crisis!

I just wish I knew more about John Mills.
 -- Nadine, Cary, NC     
  •  
    "Too big to fail" and "Too big to Jail" are very bad precedents that have been set.

    The Banksters and our "leaders" need discipline and so far we have failed in doing our duty.

    Cheers,

    b
     -- bruski, naples FL     
  •  
     -- jim k, austin tx      
     -- Ron w13, Or      
     
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