At its most basic level, a market represents an agreement between two people. For that market to sustain long-term health, those two people must honor that agreement. They must trust each other... you can have all the technology and global forces you want, but it's useless if basic trust does not exist.
Speech to the Securities Industry Association Annual Meeting, Boca Raton. Florida. 'Meeting the Challenges of a 21st Century Marketplace' (1998)