When you have a big, ugly problem, there's never going to be a neat, elegant solution that is totally painless or without a cost.

For market discipline to constrain risk effectively, financial institutions must be allowed to fail. Under optimal financial regulatory and financial system infrastructures, such a failure would not threaten the overall system.

As a child, I could beat most kids in sprints, but overall, wrestling was the most natural sport for me. In fact, I was a pretty good high school wrestler. I was unusually quick and strong.

There is a very real danger that financial regulation will become a wolf in sheep's clothing.

I've always said, 'I don't want to be irrelevant.'

One of the things I enjoy the most is fishing.

I didn't get the charm gene.