I want our pie to grow all the people, but if some other guy's pie is growing a little faster, that's terrific.

Resolution Trust Company was set up to liquidate a bunch of assets that the government had inherited because the savings and loans went broke. So the savings and loans went broke, the government stepped in, paid off depositors, and now they're left with this mass of assets to sell. We're not talking about selling here, we're talking about buying intelligently. They were selling what they got handed to them by a bunch of savings and loan operators that had in many cases had done some very dumb thing. But their job was to liquidate it. And they liquidated.

You get in a lot of trouble when you start putting fictitious numbers on value. I think to just say, we're going to say a dollar of cash is worth $2 all of a sudden, it isn't worth $2. It's worth a dollar today. And I think once you start putting phony figures into financial statements, you get in a lot of trouble.

You could have these crazy Internet valuations in the late 1990s, but they prove themselves out in the market. The next day they were selling for more than they were the day before, and people said, you know, you're crazy if you don't get in on this. So it's very human.

The good thing is, we have household formation in this country. We have a country where I don't know whether it's a million households a year or more, but good form.

When the Federal government buys the mortgages, they're not spending it, they're investing it.

The ingredients that made this country, you know, the miracle of the world - I mean we had a seven for one improvement in the average American standard of living in the 20th century.