The use of a growing array of derivatives and the related application of more-sophisticated approaches to measuring and managing risk are key factors underpinning the greater resilience of our largest financial institutions... Derivatives have permitted the unbundling of financial risks.
The thing is doing it, that's what it's all about. Not in the results of it. After all what is a risk? It's a risk not to take risks. Otherwise, you can go stale and repeat yourself. I don't feel like a person who takes risks. Yet there's something within me that must provoke controversy because I find it wherever I go. Anybody who cares about what he does takes risks.
To stake all one's life on a single moment, to risk everything on one throw, whether the stake be power or pleasure, I care not - there is no weakness in that.
I do have confidence that we're gonna be able to get it right. But it's not gonna be overnight. And there's no silver bullets to this. The fact of the matter is, is that we are suffering from a massive hangover from a binge of risk taking.