"From a practical perspective it's going to be very hard to rein in some of this retail trading in a meaningful way."

"Countries that have experimented with political 'consultation' on monetary policy have experienced prolonged periods of inflation."

What we are trying to understand is what do bank failures look like throughout history and which theories are most consistent with that history.

"Banks should be required to have buffers of capital, so if they suffer some losses, it doesn't immediately become a solvency crisis."

"Nuclear, if we can do it, is a valuable contribution to the system, but we need to learn how to do it cheaper than we've done so far."