The U.S. didn't save enough; we borrowed a lot. There were structural imbalances in Asia with exporters, with oil exporters for a whole variety of things.

The first priority is to make sure we have capital to continue to have capital available to put into the financial system. That's the first priority.

I don't see (subprime mortgage market troubles) imposing a serious problem. I think it's going to be largely contained.

A single agency responsible for systemic risk would be accountable in a way that no regulator was in the run-up to the 2008 crisis. With access to all necessary information to monitor the markets, this regulator would have a better chance of identifying and limiting the impact of future speculative bubbles.

In China, export lobbies have fought for policies that favor their interests and limit foreign competition.

I don't think a bankruptcy is a good thing.

I have great, great confidence in our capital markets and in our financial institutions. Our financial institutions, banks and investment banks, are strong. Our capital markets are resilient. They're efficient. They're flexible.