“Everyone has one. You have to, to exist you need an ideology. The question is whether it is accurate or not.”

It is decidedly not true that “nice guys finish last,” as that highly original American baseball philosopher, Leo Durocher, was alleged to have said.

Excessive optimism shows the seeds of its own reversal in the form of imbalances that tend to grow over time.

Gold stands in the way of this insidious process. It stands as a protector of property rights.

The worst have failed; investors no longer fund them and are not likely to in the future.

History demonstrates that participants in financial markets are susceptible to waves of optimism.

But how do we know when irrational exuberance has unduly escalated asset values, which then become subject to unexpected and prolonged contractions as they have in Japan over the past decade?

I think that real pressure is going to occur not by the initiation by the Federal Reserve, but by the markets themselves.

The United States can pay any debt it has because we can always print money to do that. So there is zero probability of default.

We need, in effect, to make the phantom ‘lock-boxes’ around the trust fund real.

The process of innovation is, of course, never ending.

In the absence of the gold standard, there is no way to protect savings from confiscation through inflation. There is no safe store of value.

Anything that we can do to raise personal savings is very much in the interest of this country.

Improvements in lending practices driven by information technology have enabled lenders to reach out to households with previously unrecognized borrowing capacities.

We are in the midst of a once-in-a-century credit tsunami. Central banks and governments are being required to take unprecedented measures.

Regulation of derivatives transactions that are privately negotiated by professionals is unnecessary.

Indeed, better risk management may be the only truly necessary element of success in banking.

Guys, I don’t want to tell you half-truths, unless they’re completely accurate.

The only job they had, which is to give accurate, objective ratings to financial products.

Grey is not an attractive colour, but perhaps it is the one that describes the world most accurately.

It is not written to tell us how the heavens go; it is written to tell us how to go to heaven. But when it speaks on science, it is accurate.

The argument is more accurate when one says America is focusing more attention to the Far East.

My explanation is accurate and complete, my means are effectual, and irresistable.

The whole notion of sanity may be an attempt to medicalize morality – to speak of the good in the language of health: to make us more accurate, more scientific in our wanting – but by the same token it becomes a form of moral blackmail.

To me, style is consistency.