If my detractors knew me better they would hate me even more.

They will envy you for your success, your wealth, for your intelligence, for your looks, for your status - but rarely for your wisdom.

Many people keep deploring the low level of formal education in the United states (as defined by, say, math grades). Yet these fail to realize that the new comes from here and gets imitated elsewhere. And it is not thanks to universities, which obviously claim a lot more credit than their accomplishments warrant. Like Britain in the Industrial Revolution, America's asset is, simply, risk taking and the use of optionality, this remarkable ability to engage in rational forms fo trial and error, with no comparative shame in failing again, starting again, and repeating failure.

Forecasting by bureaucrats tends to be used for anxiety relief rather than for adequate policy making.

Bankers, they're not harmed by their mistakes. They benefit when things go right, and the society pays the price.

But they never notice the following inconsistency: this so-called worst-case event, when it happened, exceeded the worst case at the time.

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?