The Free Lunch Has Still To Be

We Will Have More Crises And None Of Them Will Look Like This Because No Two Crises Have Anything In Common Except Human Nature.

Indeed, Better Risk Management May Be The Only Truly Necessary Element Of Success In Banking.

The True Measure Of A Career Is To Be Able To Be Content, Even Proud, That You Succeeded Through Your Own Endeavors Without Leaving A Trail Of Casualties In Your Wake.

Regulation - Which Is Based On Force And Fear - Undermines The Moral Base Of Business Dealings. It Becomes Cheaper To Bribe A Building Inspector Than To Meet His Standards Of Construction. Protection Of The Consumer By Regulation Is Thus Illusory.

Regulation Of Derivatives Transactions That Are Privately Negotiated By Professionals Is Unnecessary.