“When you see that in order to produce, you need to obtain permission from men who produce nothing - when you see that money is flowing to those who deal, not in goods, but in favors - when you see that men get richer by graft and by pull than by work, and your laws don’t protect you against them, but protect them against you - when you see corruption being rewarded and honesty becoming a self-sacrifice - you may know that your society is doomed.” - Ayn Rand“History is season

“When you see that in order to produce, you need to obtain permission from men who produce nothing - when you see that money is flowing to those who deal, not in goods, but in favors - when you see that men get richer by graft and by pull than by work, and your laws don’t protect you against them, but protect them against you - when you see corruption being rewarded and honesty becoming a self-sacrifice - you may know that your society is doomed.” - Ayn Rand A (re)introductio

Knowledge is knowing a tomato is a fruit. Wisdom is knowing not to put it in a fruit salad.” ”The insurance industry, however, appears more vulnerable, given, as noted, PE sponsors have been acquiring insurance companies and using their investment books as dumping grounds for their toxic waste. Even unaligned insurance companies though have often been as guilty as pension funds and endowments in “reaching for yield” and over-allocating to alts in an effort to compensate for l