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.

The integration of Europe was very much led by a Germany that was always willing to pay a little bit extra to reach a compromise that everybody accepted, because Germany was so eager to get European support for reunification. That was called the "farsighted vision," which created the European Union.

The trouble with institutional investors is that their performance is usually measured relative to their peer group and not by an absolute yardstick. This makes them trend followers by definition.

Now that I have called you on your false accusation, you are using additional smear tactics.

When I had made more money than I needed for myself and my family, I set up a foundation to promote the values and principles of a free and open society.

I put forward a pretty general theory that financial markets are intrinsically unstable. That we really have a false picture when we think about markets tending towards equilibrium.

You could adjust the punishment to fit the infraction. Even a small fine would be enough to bring an errant government to heel.