My Original Intention Was To Spend The

Markets Are Designed To Allow Individuals To Look After Their Private Needs And To Pursue Profit. It's Really A Great Invention, And I Wouldn't Underestimate The Value Of That. But They're Not Designed To Take Care Of Social Needs.

Esperanto Was A Very Useful Language, Because Wherever You Went, You Found Someone To Speak With.

The Securitisation Of Mortgages Added A New Dimension Of Systemic Risk. Financial Engineers Claimed They Were Reducing Risks Through Geographic Diversification: In Fact They Were Increasing Them By Creating An Agency Problem. The Agents Were More Interested In Maximising Fee Income Than In Protecting The Interests Of Bondholders. That Is The Verity That Was Ignored By Regulators And Market Participants Alike.

When You Sell Options, You Get Paid For Assuming Risk. That Can Be A Profitable Business, But It Does Not Mix Well With The Risks Inherent In A Leveraged Portfolio.

The World Is Looking To Us For Leadership. We Have Provided It In The Past; The Main Reason Why Anti-american Feelings Are So Strong In The World Today Is That We Are Not Providing It In The Present.