It does seem that the best hope for stability in the financial system, moving forward, is an attempt to supplement whatever reform passes by cultivating a culture of fierce, even oppositional, seriousness among financial sector regulators.
In that same sense that a head on collision results in a perfectly stable crash site.
The easiest, most likely, and probably only, way for oppositional financial sector regulators to create stability is by halting change.
It’s time for the commentators at Free Exchange to sit back and take a long, deep, breath.
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