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Regulators failed by allowing the giants of hyperfinance to write the regulations, with the FT's approval.
Daily Kos: The dollar has lost 1/3 of its value
I was a central banker and market supervisor during some of the period of deregulation.  In retrospect it was a mistake to let Citibank and Goldman Sachs define what a good market or a good regulation might be.  But there will be lots of time to learn the lessons of the coming collapse once it is past.
No, there won't be time if the FT propagates the idea that the regulators were to blame. The time to talk about how deregulation was wrong is now.

We have met the enemy, and he is us — Pogo
by Migeru (migeru at eurotrib dot com) on Sat Jan 26th, 2008 at 05:24:03 PM EST
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