Some think that by preparing to deal with crises you make them more likely. I think the wiser judgment is the contrary. In this area at least, if you want peace or stability, it's better to prepare for war or instability.

The choice is between which mistake is easier to correct: underdoing it or overdoing it.

Financial crises require governments.

The substantial uncertainty about the path of asset price movements going forward necessarily reduces the case for altering policy in advance of the move.

The world is likely to view any temporary extension of the income tax cuts for the top two percent as a prelude to a long-term or permanent extension, and that would hurt economic recovery as well by undermining confidence that we're prepared to make a commitment today to bring down our future deficits.

Looking past the immediate crisis, a more resilient system must be built on stronger and better designed shock absorbers, both in the major institutions and in the infrastructure of the financial system.

I think we're not going to preserve Fannie and Freddie in anything like their current form. We're going to have to bring fundamental change to that market.

We judged that a sudden, disorderly failure of Bear would have brought with it unpredictable but severe consequences for the functioning of the broader financial system and the broader economy, with lower equity prices, further downward pressure on home values, and less access to credit for companies and households.

There is a basic lesson on financial crises that governments tend to wait too long, underestimate the risks, want to do too little. And it ultimately gets away from them, and they end up spending more money, causing much more damage to the economy.

The major economic policy challenges facing the nation today - pick your favorites among the usual suspects of low public and household savings, concerns about educational quality and achievement, high and rising income inequality, the large imbalances between our social insurance commitments and resources - are not about monetary policy.

And I think it's a prudent, responsible way, given the scale of the emergency, the scale of the damage still facing America, that we finance these additional support for the unemployed as well as the support for small business. We think there's a good case for doing it now. We want to do it in an overall fiscally responsible way.

Never before in modern times has so much of the world been simultaneously hit by a confluence of economic and financial turmoil such as we are now living through.

Some think that by preparing to deal with crises you make them more likely. I think the wiser judgment is the contrary. In this area at least, if you want peace or stability, it's better to prepare for war or instability.

As financial markets continue to broaden and deepen, the behavior of asset prices will play an important role in the formulation of monetary policy going forward, perhaps a more important role than in the past.

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.

Although this crisis in some ways started in the United States, it is a global crisis. We bear a substantial share of the responsibility for what has happened, but factors that made the crisis so acute and so difficult to contain lie in a broader set of global forces that built up in the years before the start of our current troubles.

Monetary policy itself cannot sensibly be directed at reducing imbalances.

The recognition that things that are not sustainable will eventually come to an end does not give us much of a guide to whether the transition will be calm or exciting.

This crisis is not simply a more severe version of the usual business cycle recession, the typical downturn in which economies ultimately adjust and stabilize.

The government can help, but we need to make this transition now to a recovery led by private investment, private.

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.

The rest of the world needs the US economy and financial system to recover in order for it to revive. We remain at the center of global economic activity with financial and trade ties to every region of the globe.

We will not support returning Fannie and Freddie to the role they played before conservatorship, where they fought to take market share from private competitors while enjoying the privilege of government support.

The plausible outcomes range from the gradual and benign to the more precipitous and damaging.

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.

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

It is very important for people to understand that the United States of America and no country around the world can devalue its way to prosperity, to be competitive. It is not a viable, feasible strategy, and we will not engage in it.

But what we're determined to do, and what the reforms will do is to make sure this system goes back to its core purpose of taking the savings of Americans and from investors around the world and allocating those to people with an idea, not just the largest companies in the country, but to small businesses with an idea and a plan for growing.

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

Reason and judgment are the qualities of a leader.

The fact is, Latinos now own their own lives and I believe they can afford to look back without judgment.

The Germans certainly - the intelligence service believed that there were WMD. It turns out that we were all wrong, probably in my judgment, and that is most disturbing.

Interest is the spur of the people, but glory that of great souls. Invention is the talent of youth, and judgment of age.

Do not confuse beauty with beautiful. Beautiful is a human judgment. Beauty is All. The difference is everything.

In any case, his judgment and set of values, acting alone or through his assistants, determine not only what is gold and what is dross but the design of the history which he creates out of the metal. The historian decides what is significant, and what is not.

If all Church power vests in the clergy, then the people are practically bound to passive obedience in all matters of faith and practice; for all right of private judgment is then denied.

Good judgment comes from experience and experience comes from bad judgment.

What matters to us, the judgment of men? What have we to doubt, since we are pure before life?

In our judgment of human transactions, the law of optics is reversed; we see the most indistinctly the objects which are close around us.

I was probably in the best shape of any athlete at the time, but you don't get to pass judgment on yourself.

Sane judgment abhors nothing so much as a picture perpetrated with no technical knowledge, although with plenty of care and diligence.

At twenty years of age the will reigns; at thirty, the wit; and at forty, the judgment.

Indubitably, magic is one of the subtlest and most difficult of the sciences and arts. There is more opportunity for errors of comprehension, judgment and practice than in any other branch of physics.

My mother was a dominant force in my life. She had a very specific idea about education, which was: you should know everything about everything. It was quite simple. There was no exclusivity, and there really was no judgment.

Experts often possess more data than judgment.

The original judgment of the FBI, the Secret Service, and the CIA was that there were three shots. I don't think that convinced us except as a statement by people, many of them who were familiar with ballistics. This question troubled me greatly.

The Lord Jesus will be revealed mightily, and will make bare his holy Arm, as well in the confusion of Antichrist, as in the conversion of the Jews, before the last judgment, and the end of all things.

The Resistance is a moral certainty, not a poetic one. The true poet never uses words in order to punish someone. His judgment belongs to a creative order; it is not formulated as a prophetic scripture.

Enthusiasm is that temper of the mind in which the imagination has got the better of the judgment.