I chose America as my home because I value freedom and democracy, civil liberties and an open society.

However, you have to recognize that regulations will never be completely successful and they will always be full of holes. You must constantly be ready to fill new holes. Actually regulation should be kept to a minimum, but there has to be some cooperation between market participants and authorities - as was the case in the early postwar years. The Bank of England was a very successful regulator by cooperating with market participants. This cooperative spirit was broken by the market fundamentalists.

Misconceptions play a prominent role in my view of the world.

I'm only rich because I know when I'm wrong...I basically have survived by recognizing my mistakes.

A full and fair discussion is essential to democracy.

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.

Discount the obvious, bet on the unexpected