It is not the responsibility of the Federal Bank - nor would it be appropriate - to protect lenders and investors from the consequences of their decisions

The impact on the broader economy and financial markets of the problems in the subprime markets seems likely to be contained.

In the future, my communications with the public and with the markets will be entirely through regular and formal channels.

I am confident that we will meet whatever challenges the future may bring.

Every effort needs to be made to try and offset the costs of Katrina and Rita by reductions in other government programs, especially those that are wasteful, duplicative and ineffective.

The U.S. government has a technology, called a printing press (or, today, its electronic equivalent), that allows it to produce as many U.S. dollars as it wishes at essentially no cost.

It's the price of success: people start to think you're omnipotent.