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" It's true that monetary policy was too lax for too long, and the government encouraged lending to people who were unlikely to repay their loans. "

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" 'Inequality' has become the political theme/slogan of our time in both Europe and the U.S., yet political leaders do not even bother to consider that their own policies, which put the entire burden on central bankers to print money and drive up stock, bond and other asset prices, are actually exacerbating income and wealth disparity. "

" Today, even small entities that trade complex instruments or are granted sufficient leverage can threaten the global financial system. "

" It is impossible to understand the financial health of big financial institutions and their potential impact on the market. They don't even understand it themselves. "

" In government, the forces of risk-aversion and constant conflict serve to stultify and narrow the range of ideas up for debate. "

" Obviously, the institution of marriage in America has utterly collapsed. "

" Credit ratings and risk weightings must undergo a thorough process of review and revision. No security or instrument on the planet should have a zero risk weighting. "

" What I think about derivatives is if every institution that owns or trades them is properly margined and marked to market, including end-users, including every institution, including sovereigns and multilateral institutions, then the system would be safe - if people were margined the way customers of investment banks are margined. "

" Opacity on extreme levels is not addressed anywhere, including Dodd-Frank. "

" The Orderly Liquidation Authority prescribed by Dodd-Frank should be repealed and replaced by an amendment to the U.S. Bankruptcy Code which would operate to prevent cross-default provisions from impacting derivatives books so long as mark-to-market payments are being made in a timely fashion. "

" Creating a regulatory system that reflects the modern-day realities of financial markets is not as difficult as it may appear. "

" Check out London, Manhattan, Aspen and East Hampton real estate prices, as well as high-end art prices, to see what the leading edge of hyperinflation could look like. "

" The starting point of my career in money management in 1973-74 was the time of the only true bear market any living non-Japanese investor has seen in major markets. Equities, real estate, you name it, everyone got run over. "

" So many people, including stark conservatives, have family members and close friends who are gay. "

" Capital is kind of a banking concept. "

" Governments need to be authorized to provide 'open bank assistance.' The convolutions of Dodd-Frank aimed at 'avoiding' this tactic are ludicrous and will prove to be extremely costly to the system. "

" What would a loss of confidence in the dollar actually look like? Gold going absolutely nuts. "

" My concern as a citizen and as a money manager is, Oh my God, at what point does a 'whoa' moment happen to these people who own $30 trillion fixed income instruments? "

" Stability is not the way of the world. "

" While many of Mr. Obama's ideas warrant skepticism, conservative opposition to any expanded role for government is a mistake. "

" Derivatives trading should be standardized and as much as possible moved to clearinghouses. "

" A great deal of stupidity has chipped away at the massive advantages of Western civilization, which could terminally decline if it remains on the current path. But these problems can be solved - and swiftly - if the right leaders emerge. "

" There is no more reason to believe that Bitcoin will stand the test of time than that governments will protect the value of government-created money, although Bitcoin is newer, and we always look at babies with hope. "

" The bottom line is that the euro is a failed experiment. "

" You have got to welcome and embrace complexity. "

" America is a place where the freedom to be who you are shouldn't be a barrier to your ability to get a job and provide for your family. "

" Successful hedge funds will be entrepreneurial; it is the essence of the craft. "

" Margin is a customer concept. "

" In the workplace, employees should be judged on their merit and hard work and not on aspects that are irrelevant to their performance. "

" The world, in terms of choices available to educated, ambitious workers and entrepreneurs, is way bigger than just the United States, Japan and Europe. "

" What you have in legacy countries is long-term insolvency. "