Nothing in finance is more fatuous and harmful, in our opinion, than the firmly established attitude of common stock investors regarding questions of corporate management. That attitude is summed up in the phrase: "If you don't like the management, sell your stock." [...] The public owners seem to have abdicated all claim to control over the paid superintendents of their property
I was called by my sovereign and by the voice of the peopletoassist the State when othershad abdicated the service of it.That being so, no one can be surprisedthat I will go on no longer, since my advice is not taken. Being responsible, I will directand will be responsible for nothing that I do not direct.William Pitt the Elder
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