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.

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

I have one other issue I'd like to throw on the table. I hesitate to do it, but let me tell you some of the issues that are involved here. If we are dealing with psychology, then the thermometers one uses to measure it have an effect. I was raising the question on the side with Governor Mullins of what would happen if the Treasury sold a little gold in this market. There's an interesting question here because if the gold price broke in that context, the thermometer would not be just a measuring tool. It would basically affect the underlying psychology.

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

I love facts and figures. It's like following a detective story, piecing together what's going on in the economy.

All taxes are a drag on economic growth. It's only a question of degree.

Deficit spending is simply a scheme for the confiscation of wealth.