Financial Inefficiency Quotes

It's my guess that something like 5% of GDP goes to money management and itsattendant friction. I define it broadly - annuities, incentive pay, all trading, etc. Nobody else has used figures that high, but that's my guess. Worst of all, the people doing this are among the best and the brightest. Hundreds and thousands of engineers, etc. are going into hedge funds and investment banking. That is not an intelligent allocation of the brainpower of the civilization.

Lord, the money we do spend on Government and it's not one bit better than the government we got for one-third the money twenty years ago.

I would say that financial markets are very inefficient, and capable of extremes of being completely dysfunctional.

We should be tough on a bureaucracy that fails to turn aid money into critical services for the poor.

We [Federal Government] have tried spending money. We are spending more than we have ever spent before and it does not work.

The total amount paid out in dividends is roughly equal to the amount lost in trading and investment advice, so net dividends to shareholders are zero. This is a very peculiar way to run a republic.

It costs ten times more to govern us than it used to, and we are not governed one-tenth as good.

It's appalling how much money raised at some charity events gets wasted on paying personnel and admin staff.

I have long believed there is a lot of waste in the defense budget.

The president has borrowed more money to spend to less effect than anybody on the planet.

Data indicate that taxpayers may be paying their public servants more than a little too much.

A lifetime single worker really gets a horrid deal from Social Security. The return on average is less than 0.5 percent. These workers would be nearly better off stuffing their payroll tax dollars under a mattress.

If liberals want to send tens of millions of dollars down the drain, I have no problem with that.

When you think about how everything else works in the digital age and the way that money does, money really falls short.

I consider most of the talent in the financial world to be suboptimal. It could be better placed earning its living in the real world.

There are a lot of idiot fund managers out there who add no value to the process at all.

You can send back [to the local communities] all the money in the Western world, but that is not going to help anything if they keep on spending and spending…. In the state of New Jersey for example we have 23 school districts that don’t have any schools…. Education dollars should be for education, not for administrative bureaucracy …