Verbatim

‘I would say we’re not prepared to do anything about it.’ ROBERT GATES, U.S. Defense Secretary, on North Korea’s plan to launch a missile by April 8

‘This crisis was caused by the irrational behavior of white people with blue eyes.’ LUIZ INACIO LULA DA SILVA, Brazilian President, on the recession, saying he didn’t know “any black or indigenous bankers”

‘It all depends if they’re ready to give $50, 60, 70, 80 million. There’s a lot of potholes out here.’ RICHARD M. DALEY, mayor of Chicago, on whether he would accept KFC’s offer to fund street repairs in his city, after the restaurant chain donated $3,000 to Louisville, Ky.

‘The inhuman nature in the cold numbers of capitalism, that’s what stuns you.’ LASZLO VARNAI, mayor of Kiskunhalas, Hungary, on the closing of the town’s Levi Strauss & Co. plant, once a successful symbol of Western capitalism in the ex-Soviet nation

‘Punishing the American people in our effort to somehow deal a blow to the Castro government has not made any sense at all.’ BYRON L. DORGAN, U.S. Senator, on a bill that would lift the 50-year-old travel ban to Cuba

‘Are you ready for a world of challenge … a world of ambiguity and adventure?’ THE CENTRAL INTELLIGENCE AGENCY, in a new radio recruitment ad

‘Can’t say no one makes money from Twitter now.’ MARK CUBAN, Dallas Mavericks owner, in a Twitter message about being fined by the NBA for insulting referees on the service

Back & Forth:

Terminology

‘There was no memo, no guidance. This is the opinion of a career civil servant.’ U.S. Office of Management and Budget spokesman KENNETH BAER, on an e-mail from the Defense Department declaring that George W. Bush’s phrase war on terror would be replaced by overseas contingency operation

‘The Administration has stopped using the phrase, and I think that speaks for itself. Obviously.’ U.S. Secretary of State HILLARY CLINTON, saying she hadn’t received a directive to stop using war on terror–it’s “just not being used”

Gitmo

‘It was a loooot of fun!’ Miss Universe DAYANA MENDOZA, of Venezuela, after visiting Guantánamo Bay and pronouncing the U.S. detention center a “relaxing, calm, beautiful place”

‘Dayana Mendoza’s comments on her blog were in reference to the hospitality she received while meeting the members of the U.S. military.’ MISS UNIVERSE ORGANIZATION, defending Mendoza’s visit after critics called it inappropriate

LEXICON

Haircut n.– In lending, the difference between what a creditor is owed and what he gets

USAGE: “What a bankruptcy court might achieve is forcing those who hold GM or Chrysler’s debt ‘to take a haircut’–that is, get back less of their money than owed.” –Austin American-Statesman, March 30, 2009

For daily sound bites, visit time.com/quotes

Sources: Fox News; New York Times; Chicago Sun-Times; Los Angeles Times (2); TIME.com AP