11/6/09

"Regulation can never cure the disease of excessive risk."

Great quote in a helpful interview. Not that I don’t believe in regulation.
“You also can’t excuse Alan Greenspan for handing out free money to Wall Street every time the big firms screwed up over the past thirty years. It gave them incentive to double down on their risky bets until of course they double-downed so much the system blew up.” Charlie Gasparino