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If a financial institution is too big to fail, it is too big to exist.

I agree that we must expand opportunities for retirement saving, but we must not undermine this worthy effort with a flawed privatization scheme that takes the 'security' out of Social Security.

So another challenge for our generation is to create global institutions that reflect our ideas of fairness and responsibility, not the ideas that were the basis of the last stage of financial development over these recent years.

Financial institutions, the corporate world and civil society - all must uphold high standards of probity in their working. Only a genuine partnership between the Government and its people can bring about positive change to create a just society.

I believe that we have to have a new regulatory regime for our financial system.

It is incumbent upon each of us to improve spending and savings practices to ensure our own individual financial security and preserve the collective economic well-being of our great society.

We need to resist the temptation to create more entitlements and more entitlements, which is one of the reasons we are heading recklessly toward fiscal crisis.

So many financial dreams are thwarted by the failure to act upon good intentions.