1. “History has not dealt kindly with the aftermath of protracted periods of low risk premium.”
2. “The problem is you cannot have free global trade with highly restrictive regulated domestic markets.”
3. “The purpose of a politician is to be a leader. A politician has to lead. Otherwise he’s just a follower.”
4. “Markets do very weird things because it reacts to how people behave ad sometimes people are a little screwy.”
5. “Unless you are willing to compromise, society cannot lie together.”
6. “It is very difficult to predict when a bond crises could happen.”
7. “We really can’t forecast all that well, and yet we pretend that we can, but we really can’t.”
8. “Revolutions are something you see only in retrospect.”
9. “Whatever you tax, you get less of.”
10. “Any informed borrower is simply less vulnerable to fraud an abuse.”
11. “Deficit spending is simply a scheme for the confiscation of wealth.”
12. “Fear invariably and universally induces disengagement and disengagement is negative division of labor.”
13. “The number one problem in today’s generation and economy is the lack of financial literacy.”
14. “If you think you understand what I am saying you do not understand what I am saying.”
15. “Amateurs want to be right. Professionals want to make money.”
16. “The process of innovation is, of course, never ending.”
17. “Excessive optimism sows the seeds of its own reversal.”
18. “The need for values is inbred. Their content is not.”
19. “When trust is lost, a nation’s ability to transact business is palpably undermined.”
20. “Rules cannot take the place of character.”
21. “Regulations of derivatives transactions that are privately negotiated by professionals is unnecessary.”
22. “In general, corruption tends to exist whenever governments have favors to extend, or something to sell.”
23. “The arts develop skills and habits of mind that are important for workers in the new economy of ideas.”
24. “There are no easy choices. Easy choices are long gone.”
25. “Indeed, better risk management may be the only truly necessary element of success in banking.”
26. “The free lunch has still to be invented.”
27. “History cannot be reduced to a set of statistics and probabilities.”
28. “All taxes are a drag on economic growth. It’s only a question of degree.”
29. “We will have more crises and none of them will look like this because no two crises have anything in common except human nature.”
30. “Productivity is notoriously difficult to predict.”
