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

Once a trend is established it tends to persist and to run it’s full course.

When you sell options, you get paid for assuming risk. That can be a profitable business, but it does not mix well with the risks inherent in a leveraged portfolio.

Every bubble consists of a trend that can be observed in the real world and a misconception relating to that trend. The two elements interact with each other in a reflexive manner.

Whenever there is a conflict between universal principles and self-interest, self-interest is likely to prevail.

This crisis has the potential to be a lot worse than Lehman Brothers.

President George W. Bush is endangering the United States and the world's safety while undermining American values.