The incentives are still rotten, and people are still paid to do things they shouldn't be doing. The reforms did not really address the incentives, the system is still dysfunctional and there are still behavioural issues that need to be addressed.

Baseball is this intense subculture that actually doesn't speak very much for the larger culture.

I'd say part of the appeal of Trump is that he's presenting himself as a totally certain, infallible person.

The reason the Greeks don't pay taxes is they don't trust where their taxes are going, because they know these other Greeks are taking money from the state for doing nothing. So it's - it's an essentially corrupt society.

You could argue the banks are much better capitalised than they were going into the crisis, and everyone's in a much more vigilant state because they still remember the crisis.

the lesson of Buffett was: To succeed in a spectacular fashion you had to be spectacularly unusual.

The incentives are still rotten, and people are still paid to do things they shouldn't be doing. The reforms did not really address the incentives, the system is still dysfunctional and there are still behavioural issues that need to be addressed.