Once we realize that imperfect understanding is the human condition there is no shame in being wrong, only in failing to correct our mistakes.

We must recognize that as the dominant power in the world we have a special responsibility. In addition to protecting our national interests, we must take the leadership in protecting the common interests of humanity.

These public-private partnerships are very, very dangerous. The most rotten part of the financial system in the US consisted of the government sponsored entities, Fannie Mae and Freddie Mac. They really kicked off this crisis. The state should set the rules and enforce them - but not become involved as a market player.

The sovereignty of states must be subordinated to international law and international institutions.

Making an investment decision is like formulating a scientific hypothesis and submitting it to a practical test.

My sense of insecurity keeps me alert, always ready to correct my errors.

If the bubbles contain a misconception, as they always do, then it can't be maintained forever.