Sometimes the early bird gets the worm, but sometimes the early bird gets frozen to death.

I think in our global economy, uncertainty is ever increasing. So to accommodate to that, we need to build a dynamic economy and dynamic rules that can adapt to changing circumstances.

All models have faults - that doesn't mean you can't use them as tools for making decisions.

Every side of a coin has another side.

If someone says to you, 'Go to an old-folks' home,' that's kind of ridiculous, because a lot of old people are doing terrific things for society.

A bank needs models to measure risk. The problem, however, is that any one bank can measure its risk, but it also has to know what the risk taken by other banks in the system happens to be at any particular moment.