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

If we leave the European Union, there will be an immediate economic shock that will hit financial markets. People will not know what the future looks like.

Let us not be defeated by the tyranny of the world financial markets that threaten peace and democracy everywhere.

The U.S. will lose its status as the superpower of the world financial system. The world will become multi-polar.

Our current way of regulating the financial system is dysfunctional. Oversight is dispersed among numerous confusing bodies that at times have seemed to be racing each other to the bottom. Setting up One Big Regulator would end that problem.

This is what the European Union is all about. A strong market with a strong currency.

What goes on in Europe concerns us greatly because, if Europe comes apart, the E.U. comes apart, then you're going to have enormous impact on America, that's a very big trading partner of ours, and people own securities around the world in this day and age.

We will as soon as possible reexamine our laws and policies and eliminate all obstacles to genuine investment.

There are a number of institutions globally where the Federal Reserve typically leads the U.S. effort to work with financial regulators from other countries, and we try to, to the extent possible, establish international standards for how - the amount of capital a bank should hold, for example, or how much.

The financial system has to be regulated, we have to end with the tax havens, and it's necessary that the central banks in the world should control a little bit the banks' financing because they cannot bypass a certain range of leverage.