It seems superfluous to constrain trading in some of the newer derivatives and other innovative financial contracts of the past decade. The worst have failed; investors no longer fund them and are not likely to in the future.

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.

Since I've become a central banker, I've learned to mumble with great incoherence. If I seem unduly clear to you, you must have misunderstood what I said.

Regulators have not been able to achieve the level of future clarity required to act pre-emptively. The problem is not lack of regulation but unrealistic expectations. What we confront in reality is uncertainty, some of it frighteningly so...

The tub helps me relax, and it's a great place to read.

Anyone willing to do what is required to become president of the United States is thereby barred from taking that office. I'm only half joking

I am saddened that it is politically inconvenient to acknowledge what everyone knows: the Iraq war is largely about oil.