Paul Singer Quotes
It is a very bad idea for governments to create arbitrary and unfair outcomes, or outcomes resulting from the passions and whims of the government rather than from the law, just because they have the power to do so.
Singer, Paul. "Letter to Investors." Elliott Management Corporation, 2009.
Johnson, fundamentally an inveterate racist, tried to kill all attempts at protecting Negro rights after the Civil War. Congress rewrote the Bill to obtain enough signatures and then passed it over the President’s Veto later in the year.
The King’s statement was actually given by his chief aide, the Earl of Stafford.
While this may have been true in some European nations, many disagree completely with this assertion for America. They point to the thousands of laws passed by Congress to cut back or diminish the power that they had earlier given the agency. These counter-examples to Hayek’s view are particularly evident after most wars. What often does happen is that Congress votes a temporary power to a government agency, and when the temporary power time is coming to an end, many citizens and officials are so happy with the result of granting the power, that the power is then granted permanently, sometimes to the distress of some legislators who voted for the power with the understanding that it would be temporary. However, Congress may, and often does, change its collective mind. Coercion to Hayek includes for example, taxation if there are criminal penalties for failure to pay the tax or regulation where a government agency may require or prohibit certain behavior of a business or individual and most people would agree that even in a democracy there are coercive aspects of much government activity.
Paul Elliott Singer is an American hedge fund manager, activist investor, philanthropist, and the founder, president and Co-CEO of Elliott Management.