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.
Mark, therefore, the ordinary theory of practical religion, what it leads to. Charity is great, but the moment you say it is all, you run the risk of running into materialism. It is not religion. It is no better than atheism - a little less.
Was it hardness, was it selfishness, that she should ask me to risk my life for her own glorification? Such thoughts may come to middle age; but never to ardent three-and-twenty in the fever of his first love.
We've protected thousands of people in Libya; we have not seen a single U.S. casualty; there's no risks of additional escalation. This operation is limited in time and in scope.
I believe that the general growth in large [financial] institutions have occurred in the context of an underlying structure of markets in which many of the larger risks are dramatically -- I should say, fully -- hedged.