I think the oversight is great, and I think that oversight ought to be devoted almost entirely to the question is this being done at market you know. In other words, you want to make sure that the government isn't investing foolishly. But you don't want to care about which congressional districts it goes to or whether banks get favored over.

I’ve never believed in risking what my family and friends have and need in order to pursue what they don’t have and don’t need.

The ideal business is one that earns very high returns on capital and that keeps using lots of capital at those high returns. That becomes a compounding machine.

Good profits simply are not inconsistent with good behavior.

You have no ability, if you're a financial institution and you're threatened with criminal prosecution, you have no ability to negotiate.

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

It's good to learn from your mistakes. It's better to learn from other people's mistakes.