Credit is a promise to deliver money. It will produce GDP but you'll create credit... So you reach a certain point that that you can't do that anymore... There are choices. And how do we best support, apportion the money? How much is going to be transferred?

There is slow growth, but it is positive slow growth. At the same time, ratios of debt-to-incomes go down. That's a beautiful deleveraging.

I think so many people are reactive... they see things in a short term way they're right up against it.

Constantly probe the people who report to you, and encourage them to probe you.

Maintain 'baseball cards' and/or 'believability matrixes' for your people. Imagine if you had baseball cards that showed all the performance stats. You could see what they did well and poorly and call on the right people to play the right positions in a very transparent way.