Bernard Baruch Quotes
Every man has a right to his opinion, but no man has the right to be wrong in his facts.
Bernard Baruch, 1870-1965, Businessman & Chairman, War Industries Board, U. S. Delegate to U.N. Atomic Energy Commission, Quoted in Alfred A. Montapert, Distilled Wisdom
Sourced by: Eigen's Political and Historical Quotations
Many politicians have used this quote in recent years, but Moynahan seems to be the first.
After amassing a fortune on the New York Stock Exchange, he impressed President Woodrow Wilson by managing the nation's economic mobilization in World War I as chairman of the War Industries Board. He advised Wilson during the Paris Peace Conference. He made another fortune in the postwar bull market, but foresaw the Wall Street crash and sold out well in advance. In World War II, he became a close advisor to President Roosevelt on the role of industry in war supply, and he was credited with greatly shortening the production time for tanks and aircraft. Later he helped to develop rehabilitation programs for injured servicemen. In 1946, he was the United States representative to the United Nations Atomic Energy Commission, though his Baruch Plan for international control of atomic energy was rejected by the Soviet Union.