First, many in Wall Street - a community in which quality control is not prized - will sell investors anything they will buy.

It's just that I landed up in a terrific capitalist system. One that pays people who allocate capital extraordinarily well. Intrinsically, I'm not worth as much as somebody who invents something that could improves people's life, or health or whatever.

If you were at Lehman, the same thing happened. If you were at AIG, the shareholders are getting creamed on these things. And those shareholders are not just a bunch of big shots in Wall Street. Those are pension funds, and those are investors all over the country. I wouldn't worry too much about that. Justice won't be perfect on it.

As of 1992, in fact-though the picture would have improved since then-the money that had been made since the dawn of aviation by all of this country's airline companies was zero. Absolutely zero.

It's almost impossible to overpay the truly extraordinary CEO... but the species is rare.

You get what I call the natural progression, the three Is. The innovators, the imitators, and the idiots.

Only when the tide goes out do you discover who's been swimming naked.