You can't have a situation in which companies proceed on a permanent basis relying only on cash from the government.

Global capital markets pose the same kinds of problems that jet planes do. They are faster, more comfortable, and they get you where you are going better. But the crashes are much more spectacular.

Blaming speculators as a response to financial crisis goes back at least to the Greeks. It's almost always the wrong response.

Contagion has become very much a phenomenon, and it's a phenomenon of globalization.

In the history of the world, no one has ever washed a rented car.

The availability of private insurance provides tremendous insulation for millions of individuals

The dramatic modernization of the Asian economies ranks alongside the Renaissance and the Industrial Revolution as one of the most important developments in economic history.