madam president are only greed euphoria and cheap money to be blamed for the whole mess
what about the flaws of the originate-and-distribute model which has enhanced systemic risk
what about skewed pay schemes with a lack of ethics which have stimulated reckless risk-taking
what about investment-grade values assigned to trash
what about conflicts of interest
what about banks engaging in casino-type transactions
what about the shadow banking sector with its extreme leveraging and speculation
why have policymakers not learnt from previous crises though stern warnings were sent
just remember what lamfalussy gramlich volcker and buffett said years ago
the argument that regulation stifles financial innovation i find ludicrous
not all financial innovation is sound
is a quasi-international ponzi scheme as it has been developing via toxic products during the past decade to be tolerated
the issue at stake is the lack of proper regulation and supervision and a poor understanding of financial markets of the way they function and of systemic risk
free markets are not synonymous with deregulated markets
correction is going to be very painful especially in the united states but europe is not immune to economic downturn
solutions should not be patchy consider that markets are global
international coordination is needed to restore confidence
