The assumption that Washington could and would resolve Lehman Brothers without a bankruptcy, as it had Bear Stearns, was the single biggest mistake in the series of mistakes in 2007 and 2008 that led to the financial panic and the ensuing epidemic of job losses.

The Fed should make a clear commitment to stable money to reduce the swings in interest rates and inflation. Instead, it champions and flaunts unstable money. This encourages momentum trading and the growth of derivatives. Meanwhile, layers of financial regulation make Washington bigger and more powerful but don't fix the underlying problems.

The world is constantly in a race to the top, in terms of there's a limited amount of capital and you've got to figure where it's going. And if your currency is weakening, that means you're paying a load.

The U.S. has a law on the books called the debt limit, but the name is misleading. The debt limit started in 1917 for the purpose of facilitating more national debt, not reducing it. It still serves that purpose. It's unconnected to spending, hurts our credit rating and has been an abject failure at limiting debt.

By the same token, I think news has more and more of a pro bono aspect to all the networks. When we do our election coverages throughout this coming year, it's not a money-maker for us. It is more of a public service situation.

I have been supporting the European Union, but we are still a work in progress. We have to become more of a United States of Europe. We should talk about electing a president of the E.U., rather than having one selected from the heads of government.

It used to be that I was known as 'the longest-serving independent in the history of the United States Congress,' which is true. Now I'm a 'self-professed democratic socialist.' Things change when you run for president.

Maybe it's my libertarian philosophy: but being in government is hard.