I can see now you're well worth listening too. Your history of trolling suggested otherwise.
Where I disagree with you is in the entity responsible for patrolling. Sure, there was plenty hubris during the Greenspan days (and way too many haven't learned from the de-reg mistakes), but it is not the job of the Fed to police risk (yet). You go down that path & you're risking an unelected official deciding "too much" and bankrupting select "too much risk" companies overnight. If you have not yet, read up on their eye on mREITS and you'll see what I mean.
Bottom line IMO is congress needs to quit being mindless dicks and keep regulation up with the times. I actually have hope for a positive outcome in all this, for 20 or so years anyway, because of the money market debate that no one paid attention to. It was very sensible.
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