If we didn't have greed, market economies wouldn't be as innovative as they are. But in my view, greed has to be contained by the fear of losses, so there has to be a system where, if you take too much risk, you go into bankruptcy. You don't systematically bail out people who take excessive risks.

In the history of modern capitalism, crises are the norm, not the exception.

Once you run current-account deficits, you depend on the kindness of strangers. This might be the beginning of the end of the American empire.

I think investing in a good education has been key for me, although the investment was more in time than money.

I am not going to say I told you so, but I did.

The Treasury plan is a disgrace: a bailout of reckless bankers, lenders and investors that provides little direct debt relief to borrowers and financially stressed households and that will come at a very high cost to the US taxpayer. And the plan does nothing to resolve the severe stress in money markets and interbank markets that are now close to a systemic meltdown.

I'm not a pessimist by nature. I'm not someone who sees things in a bleak way.