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"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."
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"When you see how the President makes political or policy decisions, you see who he is. The essence of the Presidency is decision-making."

"In a constructive policy, there is 'adjust everywhere' and in a destructive policy, there is a policy of disadjustment."

"So, I'm lying on the couch and Laura walks in and I say, 'Free at last,' and she says 'You're free all right, you're free to do the dishes.' So I say, 'You're talking to the former president, baby,' and she said, 'consider this your new domestic policy agenda.'"

"Any intervention, such as that of the German Reichsbank in the Spring of 1923, in which only a small part of the increasing note-expansion was recovered by the banks through the sale of foreign bills, would necessarily be unsuccessful. Led by the idea of opposing speculation, inflationistic governments have allowed themselves to become involved in measures whose meaning is hardly intelligible. Thus at one time the importation of notes, then their exportation, then again both their exportation and importation, have been prohibited. Exporters have been forbidden to sell for their own country's notes, importers to buy with them."

"Mbeki began to write a study of the workings of apartheid policy in the reserves - the areas set aside in law for African occupation - as early as 1959 and 1960."

"Without a good cultural policy, without adequate help, we will always have individualists, shooting stars who are rapidly forgotten or who stop painting for a more profitable occupation."

"So far I, at least, have no fault to find with implications of Hamilton's Federalism, but unfortunately his policy was in certain other respects tainted with a more doubtful tendency."

"And I think the rolling polls put more pressure on them to sustain their beliefs and to improve their delivery of the policy and their delivery of the ideas so that they can garner support for whatever principle they're articulating."

"A common currency imposes on us a duty to cooperate more on policy."
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"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."

"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."

"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."

"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."

"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."

"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."

"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."

"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."

"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."
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