The process of innovation is, of course, never ending.

Now, I only play very occasionally, and in fact, more piano than clarinet or sax.

We need, in effect, to make the phantom 'lock-boxes' around the trust fund real.

[Republicans] swapped principle for power. They ended up with neither. They deserved to lose.

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.

The use of a growing array of derivatives and the related application of more-sophisticated approaches to measuring and managing risk are key factors underpinning the greater resilience of our largest financial institutions... Derivatives have permitted the unbundling of financial risks.

Institutions of the newer participants in global finance had not been tested, until recently...recent crisis have underscored certain financial structure vulnerabilities that are not readily assuaged in the short run.