If you look at the history of the American capital market, there's probably no innovation more important than the idea of generally accepted accountancy principles.

The idea that we should be open to all ideas is very different from the supposition that all ideas are equally valid.

A good rule of thumb for many things in life holds that things take longer to happen than you think they will, and then happen faster than you thought they could.

If you look at the history of the American capital market, there's probably no innovation more important than the idea of generally accepted accountancy principles.

Just between you and me, shouldn’t the World Bank be encouraging MORE migration of the dirty industries to the LDCs [Less Developed Countries]?... I think the economic logic behind dumping a load of toxic waste in the lowest wage country is impeccable and we should face up to that... I’ve always though that under-populated countries in Africa are vastly UNDER-polluted, their air quality is probably vastly inefficiently low compared to Los Angeles or Mexico City.

We are inheriting the worst financial system since the Depression. We're inheriting a situation - when people go back and study major banking crises a quarter century from now, the one that America developed in 2007 and 2008 is going to be one of those crises.

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