Credit-default swaps, I think, have serious problems associated with them.

If we are to remain preeminent in transforming knowledge into economic value, America's system of higher education must remain the world's leader in generating scientific and technological breakthrough, and in meeting the challenge to educate workers.

Without the triggers, that tax cut is irreponsible fiscal policy. Eventually, I think that will be the consensus view.

We can guarantee cash benefits as far out and at whatever size you like, but we cannot guarantee their purchasing power.

There is no evidence that the business cycle has been repealed.

It's a bubble. It has to have intrinsic value. You have to really stretch your imagination to infer what the intrinsic value of Bitcoin is. I haven't been able to do it. Maybe somebody else can.

Revolutions are something you see only in retrospect.