Monday, October 19, 2009

Regulatory incident a hoax, officials say

Wall Street Journal:

"What's worse," Mr. Emanuel said, was that "[banks] are now literally lobbying against the very reforms" that are intended to prevent another financial crisis.

Banks are crazy! Just because you explicitly instruct someone to do whatever they want, that's no reason why they should! Banks need to think hard about how record profits, increased market share, and lack of competition fit into their overall business strategy; then ask themselves, "Is it really worth it?" Soul searching at the highest level is always the best remedy for institutional excess.

4 comments:

Ethan said...

If I read the WSJ as often as you do I would probably end up killing myself.

Montag said...

it is amazing how many problems are ostensibly resolved through 'voluntary compliance.'

Ethan said...

If all Wall Street Journal headlines were as good as Colleagues Finger Billionaire I would absolutely take back what I said.

JRB said...

I think there's more where that came from.