When you read that UBS did not even view parts of its mortgage portfolio as having market risk, it becomes very obvious that a number of firms were not dotting the i's and crossing the t's when it comes to risk management.

The investment banks should either choose to be regulated as banks or should arrange to conduct their affairs to not require the stop-gap support of the Federal Reserve.

Walk across any of the trading floors - they are full of 29-year-old kids. The capital markets of America are controlled by a bunch of right-out-of-business-school young guys who haven't really seen that much.

Kenneth C. Griffin Quotes