There is a real concern his reputation has been unfairly damaged.

History cautions that extended periods of low concern about credit risk have invariably been followed by reversal, with an attendant fall in the prices of risky assets.

Should he go to jail? I don't know. I think his name, his reputation, what he's been put through and will be put through for the next several years _ his reputation and his career have already been ruined.

One way to evaluate your own reputation is to think about what would be said of you at your eulogy.

It is a great source of concern when any of these procedures are not being followed. One is always going to find a violation here or there, but an indication that ignoring the rules is widespread practice is shocking and deplorable.

The big concern that the Street has with the Fed is if they continue to go at this pace, what does this do to corporate profits?