When we discuss “Regulations,” we are talking about regulating human behavior. And that behavior can range from following misplaced incentives to falsifying accounting data to overtly legal but destructive actions — like putting people into loans they knew (or reasonably should have known) were likely to default.What a terrible sham the no “regulation cry” has been. It is really a vote for no rules against illegal and/or criminal behavior...
--- Barry Ritholtz, 12.22.08
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