But rules cannot substitute for character.
Amateurs want to be right. Professionals want to make money.
How do we know when irrational exuberance has unduly escalated asset values?
By far the most significant event in finance during the past decade has been the extraordinary development and expansion of financial derivatives.
Credit-default swaps, I think, have serious problems associated with them.
I'm not denying that monopolies are terrible things, but I am denying that it is readily easy to resolve them through legislation of that nature.