The people who best use their advantages, or overcome adversity, and work honestly are those most worthy of admiration.

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

We do not expect significant spillovers from the subprime market to the rest of the economy or to the financial system.

Nobody likes to fail but failure is an essential part of life and of learning. If your uniform isn't dirty, you haven't been in the game.

If your uniform isn't dirty, you haven't been in the game.

The best approach here, if at all possible, is to use supervisory and regulatory methods to restrain undue risk-taking and to make sure the system is resilient in case an asset-price bubble bursts in the future.

I generally leave the details of fiscal programs to the Administration and Congress. That's really their area of authority and responsibility, and I don't think it's appropriate for me to second guess.