Thursday, October 29, 2009

Quote of the Day

In an article in the Wall Street Journal about politicians exerting pressure on firms that took bailout money, this little gem appeared:

Thomas Geisel, chief executive of New Jersey's Sun Bancorp Inc., says the bank paid back its federal money in June because of legislation that imposed limits on bankers' pay, among other areas. "Lawmakers let emotion and ego get in the way of making good business decisions," he says.
(emphasis mine)

Says the man whose decision making was so poor his firm required a bailout.

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