Most consequential choices involve shades of gray, and some fog is often useful in getting things done.

This crisis exposed very significant problems in the financial systems of the United States and some other major economies. Innovation got too far out in front of the knowledge of risk.

I personally believe that there's going to be a good case for the government preserving some type of guarantee to make sure that people have the ability to borrow to finance a house even in a very damaging recession. I think there's going to be a good case for that.

The photographer's palette [is] a thousand shades of gray.

How to get things done: 1. Do it yourself if you can even if it makes you uncomfortable, 2. If you can't ask someone who can show you how.

In the financial system we have today, with less risk concentrated in banks, the probability of systemic financial crises may be lower than in traditional bank-centered financial systems.