What an ideology is is a conceptual framework with the way people deal with reality. Everyone has one. You have to, to exist you need an ideology. The question is whether it is accurate or not.

Excessive optimism sows the seeds of its own reversal.

If you think you understand what I am saying you do not understand what I am saying.

What we have found over the years in the marketplace is that derivatives have been an extraordinarily useful vehicle to transfer risk from those who shouldn't be taking it to those who are willing to and are capable of doing so.

I made a mistake in presuming that the self-interests of organisations, specifically banks and others, were such that they were best capable of protecting their own shareholders and their equity in the firms.

We will have more crises and none of them will look like this because no two crises have anything in common except human nature.

Cash is available and we should use that in larger amounts, as is necessary, to solve the problems of the stress of this.