The guiding purpose of the government regulator is to prevent rather than to create something.

If I say something which you understand fully in this regard, I probably made a mistake.

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.

If all currencies are moving up or down together, the question is: relative to what? Gold is the canary in the coal mine. It signals problems with respect to currency markets. Central banks should pay attention to it.

Corruption, embezzlement, fraud, these are all characteristics which exist everywhere. It is regrettably the way human nature functions, whether we like it or not. What successful economies do is keep it to a minimum. No one has ever eliminated any of that stuff.

I'm a plain soap kind of guy.

By far the most significant event in finance during the past decade has been the extraordinary development and expansion of financial derivatives.