The Orderly Liquidation Authority prescribed by Dodd-Frank should be repealed and replaced by an amendment to the U.S. Bankruptcy Code which would operate to prevent cross-default provisions from impacting derivatives books so long as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.

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

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.

Fashion is about what you look like, which translates to what you would like to be like.

Those operators that do not pay their fines in a timely manner, they should not be able to operate. They're making all kinds of money.

No statement should be believed because it is made by an authority.