The very astute Nassim Taleb:
Regulations alone will not protect us. The regulators gave the banks the rope to hang themselves.
The smaller the error rate, the more likely it is to be grossly underestimated.
No bonus without malice. Cancel bonuses for anyone with even a remote risk of bailout.
Complexity and debt are not friends.Making private debt into public debt makes it immortal and immoral
Bubbles are good- they disseminate information.