Revolutions are something you see only in retrospect.

We are in the midst of a once-in-a-century credit tsunami. Central banks and governments are being required to take unprecedented measures. Those of us who have looked to the self-interest of lending institutions to protect shareholders' equity are in a state of shocked disbelief.

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

I've been in and out of Wall Street since 1949, and I've never seen the type of animosity between government and Wall Street. And I'm not sure where it comes from, but I suspect it's got to do with a general schism in this society which is really becoming ever more destructive.

The current financial crisis in the US is likely to be judged in retrospect as the most wrenching since the end of the Second World War.

Excessive optimism sows the seeds of its own reversal.

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