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.

A lot of the evil in the world is actually not intentional. A lot of people in the financial system did a lot of damage without intending to.

Market prices are always wrong.

If we care about universal principles such as freedom, democracy and the rule of law, we cannot leave them to the care of market forces; we must establish some other institutions to safeguard them.

The global crisis is caused by pathologies inherent in the global financial system itself.

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

The only thing that could hurt me is if my success encouraged me to return to my childhood fantasies of omnipotence - but that is not likely to happen as long as I remain engaged in the financial markets, because they constantly remind me of my limitations.