Quotes from Ben S. Bernanke

Fuld's commitment to his firm was evident in every discussion or encounter I had with him.

But, to my chagrin, either I misunderstood Hank or he and his staff changed course.

The deflation of the 1930s led to widespread bankruptcies and defaults, gravely worsening an already bad situation.

Philosophically, I did not view myself as either strongly pro- or anti-regulation.

I had found it difficult to choose, at the December meeting, between a quarter-point and a half-point rate cut.

He saw the firm's success as a personal validation.

It took some lengthy meetings and calls, but eventually we found a workable formula.

It usually results in better decisions,

These principles should be more broadly applied in Washington.

must be prepared to think outside the box,

I knew that psychological as well as economic factors motivate human behavior.

The housing collapse and credit problems could feed on each other and fuel a more general downturn

the PDCF carried some stigma

Paul still carried considerable influence in policy circles,

But it's hard to avoid the conclusion that today we need more cooperation and less confrontation in Washington.

They want agility and force, but they also want predictability and steadiness,

I found that attitude remarkable. By this time the foreclosure epidemic had spread well beyond those who had knowingly purchased homes they could not afford.

I caught up with Tim and Don.

With the money supply no longer constrained by the amount of gold held by the government, deflation stopped almost immediately.

The government doesn't allow sales of flammable children's pajamas, for example, no matter how clear the warning label.

had been an indispensable adviser to both Greenspan and me.

And I was shocked when a high school friend, someone I thought of as a "nice kid," expressed satisfaction at the assassination of Martin Luther King in April 1968.

some products should just be kept out of the marketplace.

but he was keeping an open mind about whether we needed to act at it. "I'd