History has not dealt kindly with the aftermath of protracted periods of low risk premiums.

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

History has not dealt kindly with the aftermath of protracted periods of low risk premiums.

A decline in the national housing price level would need to be substantial to trigger a significant rise in foreclosures, because the vast majority of homeowners have built up substantial equity in their homes despite large mortgage-market financed withdrawals of home equity in recent years.

Well, you probably will always believe there should be laws against fraud, and I don't think there is any need for a law against fraud.

I was a fairly good amateur musician, and I was an average professional. But the one thing I saw was that the big band business was fading.

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.