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.

I'm from Pemberton, Wigan, and was born into a poor family. I grew up on a council estate. My dad was at first in the Army and then in the coal mines. My mother had four children by the time she was 23 so money was always tight.

People employed in financial institutions are rarely interesting and even more rarely likable.

Whether you are on the Right or the Left, everyone can agree that there are a lot of outside influences in American politics that are not good for the system. There's just too much money.

Our number one agenda is to get money out of politics, to drain the swamp, but not in the way that Trump said. He stacked his cabinet full of Goldman Sachs guys.