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Notes to myself, possibly of interest to others.
-- Bill Northlich

Tuesday, November 4, 2008

Cut to the chase on regulation

SUSIE GHARIB, PBS: If you could pin it down to one thing, what would you say is the lessons learned from this crisis?

NOURIEL ROUBINI, NYU: The crucial lesson learned from this crisis is that you need financial regulation and supervision of the financial system, because self regulation is no regulation. And in a situation of irrational exuberance, then market discipline does not occur.

As recounted at RGE, 10/29/08

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