“The public has lost faith in the ability of Social Security and Medicare to provide for old age. They've lost faith in the banking system and in conventional medical insurance.”
Related authors
Other Ron Chernow Quotes
The securities laws of the 1930s were so important because it forced companies to file registration statements and issue prospectuses, and it remedied the imbalance of information.
Ron Chernow 
58% of people like this quote
Once the brokerage house, rather than the bank, became the locus for American savings, that money would find its way into the stock market, because the broker was someone with a much higher tolerance for risk than the banker.
Ron Chernow
57% of people like this quote
That strategy of buy and hold, which is the sound and sensible one for the individual, can have very dangerous and perverse effects for the market as a whole.
Ron Chernow
56% of people like this quote
A lot of the money in the stock market is really our national retirement plan, for better or worse.
Ron Chernow
56% of people like this quote