The second thing that contributed to the problems we saw is the fact that there was not in any stretch of the imagination a clear understanding on the part of the regulators as to what their authority was and what their responsibilities were.

FORBES: About Harvey Pitt

"Following a meeting of the Independent National Directors of the Times and the Sunday Times yesterday we welcome their clear understanding of the very difficult financial position of our newspapers and therefore the need to address the undertakings given in 1981, " he said.

BBC: John Witherow is appointed new editor of the Times

Many do not have a clear understanding of how much hard work and commitment they must invest to ensure their own future.

FORBES: A "Generation of Sissies"

As private equity and hedge funds continue to enter mainstream life in the United States, the United Kingdom and around the world, it becomes more and more important for all of us to have a clear understanding of what it is that they really do, who benefits from their successes and who is at risk from their losses.

FORBES: The Pointy End of Capitalism