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.

Higher asset prices increase wealth and, with a lag, induce higher spending.

We didn't have that big-label push. We weren't the kind of band that our label Warner Bros. Records was going to throw all this money at. Their idea was to support us on the road and see what happens. It was a very slow building process.

A very wise author once said that a writer writes for himself, and then publishes for money. I write for myself and publish just for the reader.

I went into the business for the money, and the art grew out of it. If people are disillusioned by that remark, I can't help it. It's the truth.

Every creativity has a motive. Either one does it for money, for fame, or for passion. My energies go out for passion.