We should probably stop trading derivatives, anything more complex than regular options ... I am an options trader, and I don't understand options. How do you want a regulator to understand them?

If you hear a "prominent" economist using the word 'equilibrium,' or 'normal distribution,' do not argue with him; just ignore him, or try to put a rat down his shirt.

When you beat up someone physically, you get excercise and stress relief; when you assault him verbally on the Internet, you just harm yourself.

Comfort makes you weaker. We need some variability, some stressors. Not too much, but just enough.

It does not matter how frequently something succeeds if failure is too costly to bear.

My nightmare scenario is that the government saves Citibank once again, as well as the other banks, and business resumes as usual. Then, the next time the system breaks, it breaks much, much bigger.

It was obvious that their profits were simply cash borrowed from destiny with some random payback time.