If you look at the history of the American capital market, there's probably no innovation more important than the idea of generally accepted accountancy principles.

But ultimately what I was impressed by during my years in government was how much the intellectual climate and the prevailing intellectual notions constrained and represented the universe within which the discourse took place.

Contagion has become very much a phenomenon, and it's a phenomenon of globalization.

Blaming speculators as a response to financial crisis goes back at least to the Greeks. It's almost always the wrong response.

How do we get democracy at the international level? That's our problem. and it's essentially the same problem people faced in the 18th Century when they tried to get democracy nationally. Now we need it internationally.

I'm a huge fan of the program 'Democracy Now,' which is hosted by Amy Goodman, and I subscribe to the podcast.

Do I think it is good policy for the government to own companies? Normally, I'd say 'no.' But in my world, if a firm puts itself in a position that it needs a last minute rescue, and the future is uncertain at best, then the investor who steps into that breach ends up owning the company. Full stop.

In a general sense, I think it's bad to bring too much money into climbing, since it takes away a little from the beauty of the mountains. But at the same time, I can't blame the Nepali government - or the Indian, Pakistani or Chinese, depending on where you're climbing - from wanting to capitalize on foreign climbers.