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" 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. "

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

Paul Singer

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Small

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" Imagine how much capital a country like Argentina might attract - if instead of defaulting seriatim and affecting a pose of anger toward creditors, it borrowed responsibly and honored its obligations. "

Paul Singer

Anger

How

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

" I've never let my guard down by saying, 'I don't need to be hedged.' "

" 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. "

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

" 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. "

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

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

" It is a very bad idea for governments to create arbitrary and unfair outcomes, or outcomes resulting from the passions and whims of the government rather than from the law, just because they have the power to do so. "

" The building block of every community is family. "

" You have got to welcome and embrace complexity. "

" 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. "

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

" Capital is kind of a banking concept. "

" There is no safe haven in today's markets. "

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

" Margin is a customer concept. "

" 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. "

" 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. "

" 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? "

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

" Stability is not the way of the world. "

" Given the typical fee structures of hedge funds, they need to do something different to make money in a consistent way. "

" '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. "

" I'm rarely optimistic. "

Paul Singer

Rarely

Optimistic

" 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. "

" 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. "

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

" The Congo is very wealthy from oil money but is not paying its debts and at the same time is applying for special status at the World Bank. That's shocking and disingenuous. "