12/11/1962
https://www.presidency.ucsb.edu...
"Well, why don't you just do not make the investment?"
"Are you telling me that you make private equity investments, as a fiduciary, without understanding the fees, and if so, whose fault is that?"
"So is that where we are headed here, to have government-run private equity, like President Xi does in China?"
"But if it does work it is a beautiful thing."