Any onset of increased investor caution elevates risk premiums and, as a consequence, lowers asset values and promotes the liquidation of the debt that supported higher asset prices, ... This is the reason that history has not dealt kindly with the aftermath of protracted periods of low risk premiums.
I think our basic principle that this is a free market system and that that has worked for us, that it creates innovation and risk taking, I think that's a principle that we've gotta hold to as well. But what I don't wanna do is get bottled up in a lot of ideology and is this conservative or liberal. My interest is finding something that works.
You shouldn't have asked," I said. "Love doesn't ask many questions, because if we stop to think we become fearful. It's an inexplicable fear; it's difficult even to describe it. Maybe it's the fear of being scorned, of not being accepted, or of breaking the spell. It's ridiculous, but that's the way it is. That's why you don't ask-you act. As you've said many times, you have to take risks.
The banks, because of mismanagement, because of huge risk taking, are now in very vulnerable positions. We can expect that we're gonna have to do more to shore up the financial system. We also are gonna have to make sure that we set up financial regulations so that not only does this never happen again, but you start having some sort of - trust in how the credit markets work again.
...Human thought has no limit. At its risk and peril, it analyzes and dissects its own fascination. We could almost say that, by a sort of splendid reaction, it fascinates nature; the mysterious world surrounding us returns what it receives; it is likely that contemplators are contemplated.
Have I not walked without an upward look Of caution under stars that very well Might not have missed me when they shot and fell? It was a risk I had to take-and took.