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The financial industry is a service industry. It should serve others before it serves itself.

The market, as we're all painfully aware in the aftermath of the banking crisis, can be an idiot. It has no perception of right or wrong, or even sensible or insane. It sees profit.

The more there is a European solution to a theoretical, but possible, problem in the markets, the less we will have to talk about an I.M.F. solution.

The financial world is at the cutting edge of high technology.

We need banks and financiers and entrepreneurs to take risks because that's how economies grow over time.

We don't see very far in the future, we are very focused on one idea at a time, one problem at a time, and all these are incompatible with rationality as economic theory assumes it.

We can find a great sector or business, but we're investing so early that unless there's this tenacious grit, determination, resourcefulness, ability to evolve, it won't work.

We do recognise that there are areas where the current financial services market, the banking market, just isn't working for chunks of the British economy.

My research interests since then have shifted strongly towards the economic and regulatory problems of the financial services industry, and especially of the securities and options exchanges.

If you want to invest in early-stage technologies, putting a timeframe on it does behold you to Silicon Valley economics. You've got a certain time period where you have to make the money. And you have to invest that money whether you find good companies or not.