Hedge funds are a very efficient way of managing money. But there are clearly some risks. Hedge funds use credit and credit is a source of instability. Transactions involving credit should be regulated.

Markets are imperfect. So you do need regulation, knowing that the regulators are also human.

By creating the European Central Bank, the member states exposed their own government bonds to the risk of default. Developed countries that issue bonds in their own currency never default, because they can always print money. Their currency may depreciate, but the risk of default is absent.

In politics, manipulating reality can take presidence over finding reality.

America needs to follow the policies it has introduced in Germany. We have to go through a certain de-Nazification process.

Giving government aid to a bank basically transforms it into a utility. The huge salaries in this sector are only a symptom of a more profound misalignment. The profitability of the finance industry has been excessive. [...] That was absurd.

I'm only rich because I know when I'm wrong.