Books Quote by John Stossel No They can t Pg 32 Threshold Editions New York New York 2012
![“Jim Roger, the successful investor and author, puts it well; “Why are 300 million Americans having to pay for Citibank’s mistakes? The way the system is supposed to work [is this]: People fail. And then the competent people take over the assets from the failed people, and then you start again with…” quote by John Stossel No They can t Pg 32 Threshold Editions New York New York 2012](https://sms4smile.com/quotes/img-quotes/ae8/john-stossel-no-they-can-t-pg_books_jim-roger-the-successful-investor-and-au_2705274.jpg)
““Jim Roger, the successful investor and author, puts it well; “Why are 300 million Americans having to pay for Citibank’s mistakes? The way the system is supposed to work [is this]: People fail. And then the competent people take over the assets from the failed people, and then you start again with a new stronger base. What we’re doing this time is. . .taking the assets from the competent people, giving them to the incompetent people, and saying, ‘ok, now you can compete with the competent people.’ So everybody’s weakened: The whole nation is weakened.””
About This Quote
Source Documentary: Economic critique, 2012
The system weakens the nation by transferring assets from competent to incompetent people, undermining competition and growth.
In simple terms: Asset transfer harms national strength.
Key Takeaway
Promote competence in markets.
Themes
economics
policy
competition
Mood
critical
concerned
Type
documentary
analysis
Books:1
Competition:1
Customer:0
Investing:1
Success:0
People Fail:1
Failed People:1
Incompetent People:1
Citibank Mistakes:1
Fail Competent:0
When to use this quote
- investment strategy
- public policy
- economic reform
Key Concepts
finance
politics
ethics
Questions to Reflect On
- How does asset misallocation affect growth?
- What safeguards ensure competence?
A Different Perspective
Complex systems have multiple factors beyond competence.
![“[T]hat little voice shut up the instant I did something. And not just something: the exact thing I knew to be right. Because if the system was broken, if Carrie Johnstone wasn’t going to ever pay consequences for her action, it wasn’t because “the system” failed to get her. It was because people…” quote by Cory Doctorow](https://sms4smile.com/quotes/img-quotes/630/cory-doctorow-1928_part-of-the-problem_t-hat-little-voice-shut-up-the-instant-i_886208.jpg)
