You need a government that believes in government. It also believes in markets and wants to give markets the best, the greatest opportunity, but is trying to govern well.

The reality is that financial markets are self-destabilizing; occasionally they tend toward disequilibrium, not equilibrium.

If the terrorists have the sympathy of people, it's much harder to find them. So we need people on our side, and that leads us to be responsible leaders of the world, show some concern with the problems.

An open society calls itself open to improvement. It is based on the recognition that people have divergent views and interests, and that nobody is in possession of the ultimate truth.

The prevailing wisdom is that markets are always right. I take the opposite position. I assume that markets are always wrong.

In the case of a meltdown, the regulatory authorities may find themselves obliged to step in to preserve the integrity of the system. It is in that light that the authorities have both a right and an obligation to supervise and regulate derivative instruments.

Mankind's ability to understand and control the forces of nature greatly exceeds our ability to govern ourselves