Unfortunately, public policy lost today.

When I was in office, the morning TV shows were dedicated to public policy. You'd turn on the 'Today' show and they'd have serious discussions of health-care problems and Cold War issues, and they'd have people from Congress on. Now it's all about lifestyle. It's cooking, it's dressing, it's celebrity-oriented, it's promotion of other television programs on the network, it's sensationalism. I think the heirs of William Randolph Hearst have taken over the whole industry.

What lesson can we draw from New York's post-Andrew temporary market dislocations? If public policy stays the course, and assists in the efforts to match buyers and sellers, the private sector will act to stabilize the market. It always does.

We have become more involved in the political process because we want our views heard on public policy issues that are important to the company and the entire high tech industry. Individuals at Microsoft support candidates, but the company does not endorse anyone.

The session was full of acrimony and very little public policy. They couldn't get consensus to get anything significant done. Lawmakers and the governor were consumed by the special election.

Universality has been severely reduced: it is virtually dead as a concept in most areas of public policy.