It's a big mistake to try and mislead people. They will turn around.

Focus on your customers and lead your people as though their lives depend on your success.

[People] have seen the credit market seize up. They're worried about money market funds, although the latest proposition from government should take care of that. They've seen eight percent of the bank deposits in the United States get moved very skillfully, I might say, within the last couple of weeks from institutions that they thought were fine a few months ago to other institutions. They are not wrong to be worried.

But 300 million Americans, their lending institutions, their government, their media, all believed that house prices were going to go up consistently. And that got billed into a $20 trillion residential home market. Lending was done based on it, and everybody did a lot of foolish things.

We can afford to lose money - even a lot of money. But we can't afford to lose reputation - even a shred of reputation.

I knew a lot about what I did when I was 20. I had read a lot, and I aspired to learn everything I could about the subject.

Working with people who cause your stomach to churn seems much like marrying for money - probably a bad idea under any circumstances, but absolute madness if you are already rich.