Improvements In Lending Practices Driven By Information

The Use Of A Growing Array Of Derivatives And The Related Application Of More-sophisticated Approaches To Measuring And Managing Risk Are Key Factors Underpinning The Greater Resilience Of Our Largest Financial Institutions... Derivatives Have Permitted The Unbundling Of Financial Risks.

Credit-default Swaps, I Think, Have Serious Problems Associated With Them.

The True Measure Of A Career Is To Be Able To Be Content, Even Proud, That You Succeeded Through Your Own Endeavors Without Leaving A Trail Of Casualties In Your Wake.

The Very Nature Of Finance Is That It Cannot Be Profitable Unless It Is Significantly Leveraged... And As Long As There Is Debt, There Can Be Failure And Contagion.

Indeed, Better Risk Management May Be The Only Truly Necessary Element Of Success In Banking.