Is there a market for somebody selling a credit card that helps people pay down their balances? I think the question is yes. But it would have to be sold by a bank that's really willing to invest in being a trusted partner with its consumers, because they will make less money on each consumer.

Every American worker should be able to save for retirement via payroll deductions.

Recall that people like to do what most people think it is right to do; recall too that people like to do what most people actually do.

I don't go by the ratings. I buy wine that tastes good. Statistically, anybody's ability to predict what will be a good wine a decade from now is limited.

The money has to be deferred with what they call "clawback," which means they can get it back if I lose it all. So that guy making ten million a year selling credit default swaps, if we're going to keep five million of it in escrow for ten years, and with the right to go back and get it, if he starts losing money, then we're going to give people the right incentives not too take so much risk.

I think the people who've been the most overconfident in our business in the last decade have been the people that called themselves risk managers.

Most economists, including me, agree that longevity insurance would make sense for a lot of people.