I am unable to think of any critical, complex human activity that could be safely reduced to a simple summary equation.

Perhaps the greatest challenge for the resolution of a systemic global bank is the possibility that public or private actors in different countries might take local actions that would cause the overall resolution to spin out of control.

Regulatory changes have forced banks to closely examine their liquidity planning and to internalize the costs of liquidity provision. The costs of committed liquidity facilities will be passed on to clearing members. These costs are perhaps highest in clearing Treasury securities, where liquidity needs can be especially large.

The financial crisis and the Great Recession posed the most significant macroeconomic challenges for the United States in a half-century, leaving behind high unemployment and below-target inflation and calling for highly accommodative monetary policies.

A lot of other wealthy people feel the responsibility to take some of the wealth they've been given and give back: to give a lot of money to a particular cancer charity or to a group researching some particular disease or their alma mater. We haven't really found anything like that with Trump.

As members of a social species endowed with large brains, we are natural-born marketers. Capitalism, the economic system that has elevated innumerable people out of abject poverty and misery, is founded on marketing. Everything that defines your daily existence has the indelible marks of marketing on it.

We sent a guy called Terry Slater a couple of demos, using the last of our money. And then things turned. He landed us a deal with Warners and said just keep coming up with songs, because when success hits you, you won't even know your name.

Most people seem unaware that corporate influence and wealth has taken over public policy, such that government policy now favors the wealthy few at the expense of the people.